NEWS ROUNDUP — Deak pours first Astoria brick

The first gold brick from the Astoria gold mine in northwestern Quebec was poured recently by Deak Resources (TSE).

Ore from the Yorbeau project near Rouyn-Noranda, Que., is being trucked to Deak’s Virginiatown, Ont., mill for processing. Mining of the Astoria deposit began in early spring (T.N.M., May 3/93).

Deak acquired the property from Yorbeau by agreeing to place it into production. Under the agreement, Yorbeau is entitled to a 40% net profits interest (NPI) until $3 million has been received. Yorbeau will then receive a 2% net smelter return (NSR) royalty. Yorbeau also has the option of converting either the NPI or the NSR into a 40% working interest.

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