Work on the Barraute property in northwestern Quebec is to resume, Barexor Minerals reports.
The Hughes-Lang group, project operator, through Arbor Resources and Kangeld Resources, plans a $4-million exploration program (subject to regulatory approval). Barexor will finance 49% of the work.
The program consists of developing the gold deposit by deepening the existing incline; driving drifts, cross-cuts and raises; and carrying out underground drilling.
Last year Hughes-Lang acquired a 51% interest in the Barraute property by spending more than $1.7 million on exploration work. Revealed was a deposit in a “chimney” 175 ft long and 60 ft wide. Surface drilling indicated the chimney runs at least 800 ft deep.
To finance its share of the exploration program, Barexor has signed agreements with CMP 87 and Freewest. Part of its financing will also be provided through Ariel IV Ltd. Partnership and Co.
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