More than $1 million will be spent by Joutel Resources and partners on exploration this year, Joutel shareholders heard at the annual meeting. A major effort will be made at the company’s property near Stewart, B.C.
Located less than 12 miles from the Big Missouri gold project operated by Westmin Resources, the Stewart property will be tested by 8,000 ft of diamond drilling. Charles Page, vice-president exploration for Joutel, says that the Stewart property is within the same favorable geological unit which hosts the Big Missouri deposits. Westmin is expecting a production feasibility report on the Big Missouri project this summer.
Additional work is also planned for the company’s property near Pickle Lake, Ont. These claims adjoin ground held by Highland Crow Resources on which a production decision is expected this year.
Joutel’s main asset is a 21% interest in Queenston Gold Mines. Queenston has royalty income from Lac Minerals’ Macassa gold mine and holds substantial assets in the Kirkland Lake camp, Ont. These include a 700-ton-per-day operating mill near the Upper Canada mine property.
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