Pan East Resources reports it is negotiating for flow-through funds t o carry out a 2-phase exploration program on its Nova Scotia gold prospect at Fifteen Mile Stream. The first phase would cost $350,000 and the second $800,000.
The company has applied for and been accepted for listing on the Alberta Stock Exchange and management expects the shares will be posted for trading in the near future, President William L. Young reports. The company had MPH C onsulting prepare a report on the property. A limited reconnaissance drilling program was carried out in the summer of 1985. In the report, dated July 31 of this year, MPH reviewed the data and concluded probable ore reserves total 94,512 tonnes averaging 7.65 g per tonne (0.22 oz per ton) and an additional possible l00,000 tons at the same average.
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