Diabior, partner test La Grande

Montreal-listed partners Exploration Diabior and Garde Societe d’Exploration have begun exploring La Grande property near Radisson, Que.

Stripping, trenching and sampling will be performed in an effort to follow up on gold-bearing samples that yielded up to 0.57 oz. per ton. Mineralization is associated with an east-west-trending, quartz- and sulphide-bearing shear zone. As a result of the earlier sampling, the joint venture upped its land position to 136 from 78 sq. km.

Diabor completed a private placement of $50,000, which consists of 111,112 shares priced at 45 cents per share and warrants to buy an equal number of shares at 59 cents each, valid until April 7, 1996.

Another company active in the James Bay Lowlands is CDN-listed Eastmain Resources, which has raised $200,000 by way of a private placement of 1 million shares priced at 20 cents each.

The company holds a large land position in the Eastmain River area of Quebec, in a joint venture with Westmin Resources (TSE). Eastmain says it is looking for another project with growth potential.