$150,000 in flow-through for Fontana gold project

A maximum of $150,000 in flow-through financing will go toward Jilbey Exploration’s (ME) share of expenses on the Fontana joint venture project in Duverny Twp., Que. CMP 1990 Resource Partnership has agreed to subscribe to Jilbey’s flow-through shares at 40 cents per share. The money raised will finance drilling to test the strike continuity of the high values (intersections of up to 125 ft. grading 0.51 oz. gold per ton) obtained during exploration earlier this year.

The flow-through funds will be added to the $150,000 already committed by St. Genevieve Resources (TSE) to its subsidiary Bay Resources and Services (ASE). Bay has a 40% interest in the Fontana property, while St. Genevieve maintains a 7% interest. The remaining interest is divided almost equally between Exploration Duverny, a subsidiary of Stratmin (ME), and Jilbey.