A joint venture agreement has been completed between Gateford Resour ces and Macamic Resources which gives the latter company the right to earn a 50% interest in Gateford’s Reed-Belanger chrome deposit.
Located near Black Lake, Que., the chrome deposit has reserves of 440,000 tons grading 6%-8% chromite. Macamic, which can earn its interest by funding exploration at the property, plans to increase both reserves and grade. Exploration is expected to start this spring.
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