SouthernEra’s Jennings bullish on Quebec’s Le Tac area

Ontario and Quebec

* The Le Tac area of Quebec could become the next Lac de Gras, according to SouthernEra President Christopher Jennings who addressed shareholders at the annual meeting. “Quebec may be the next place where we hear some pretty good news,” he speculated. “The area has some extremely interesting mineral chemistry.”

* Beauchamps Exploration (VSE) has entered into a private placement consisting of up to 666,667 units at 15 cents each. Each unit consists of one common share and one warrant to buy an additional share for 15 cents until March 1, 1994. The funds will be used to explore holdings in Benoit and Carpiquet Twps., Que.

* Beaufield Consolidated Resources (VSE) has completed a private placement worth up to $210,000. It consists of 420,000 flow-through shares at 25 cents per share and warrants to buy 420,000 additional shares at 25 cents. Proceeds will be used to explore kimberlite targets in Nenoit, Rallau, and Urban Twps., Que.

* Consolidated Top Gun Explorations (VSE) can earn a 50% interest in 24 claims in Reaume Twp., Ont., by issuing East West Resource (VSE) 18,375 Top Gun shares and spending $250,000 on exploration over the next two years. The claims cover five circular geophysical anomalies thought to represent kimberlites. East West says pyrope garnets have also been identified south of the claims.

* Trade Winds Resources (VSE) has recovered pyrope garnets from a till sample collected during an overburden sampling program on its claims in the Lake Abitibi area of Ontario. An additional 70 samples are still being processed. The company is also carrying out ground geophysical surveys on its other property holdings in the area.

Alberta and Saskatchewan

* Hixon Gold Resources (VSE) has agreed to acquire an additional 16.7% in the Western Shield Prospecting Syndicate for $30,000 to increase its stake to 51.4%. To date, the syndicate has staked and permitted more than one million acres in Alberta, British Columbia and Saskatchewan.

* Partners Golden Peaks Resources and Consolidated Pine Channel have identified numerous bull’s-eye anomalies similar to those found in the Fort a la Corne area on their property north of Tobin Lake, Sask. Staking in the area continues.

* Aaron Oil (ASE) has entered into a private placement of up to $1 million through the issuance of 416,667 flow-through shares at a purchase price of $2.40 per share. The money raised will be used to fund exploration on the Fort a la Corne, Sask., and Lac de Gras, N.W.T., properties. * Takla Star (ASE) agreed to a private placement consisting of 280,000 flow-through shares at $1.48 per share and warrants for an additional 266,667 shares at $1.50 per share. Proceeds will be used to explore Takla’s Alberta diamond properties.

Northwest Territories

* Regional property evaluation and heavy mineral sampling are under way on joint-venture properties held by Pure Gold Resources (TSE). A field processing and mineral lab facility will be installed at the base camp and supervised by partner Ashton Mining. By August, drilling is expected to begin on the Humpy Lake property, held by Pure Gold, Atna Resources (VSE), Island-Arc Resources (VSE) and Winslow Gold (VSE).

* Caledonia Mining (TSE) plans to issue up to one million flow-through shares at a $1 per share and up to 500,000 additional shares at $1.25 per share in a private placement. The proceeds will be used to explore claims in the Northwest Territories.

Leeward Capital (VSE) has arranged funding for up to $1.6 million through a private placement. The issue consists of 500,000 shares at $1.60 per share with an additional $800,000 in shares to be bought later. The funds will be used for regional diamond exploration in the Dubawnt Lake area. Westpine Metals (VSE) has agreed to a private placement of $100,000, proceeds of which will be used on its Somerset Island project where six new aeromagnetic targets have been outlined.