— Braiden Resources (VSE) has agreed to earn a 50% interest in a 72,000-acre property held by Super Twins Resources (VSE) in the George Lake area, northeast of Lac de Gras.
To earn the interest, Braiden must pay $72,000, issue 200,000 shares and spend $500,000 on exploration by Dec. 31, 1995. The property will be explored for its diamond, gold, and base metal potential.
— Additional kimberlite pipes have been discovered on DHK Resources’ DHK and WO blocks of claims and the company says it expects “many” pipes to be encountered in the “Lac de Gras kimberlite cluster.” Results will be released when available.
— Howex Enterprises has agreed to earn a 60% interest in a 100,000-acre property south of Lac de Gras from Noront Resources (VSE). To do so, Howex must issue 200,000 shares and complete a $1.5-million program over three years.
Noront has also optioned a 100,000-acre property in the Walmsley Lake area to Ateba Mines (CDN) in exchange for one million shares and $1.5 million in exploration expenditures.
— As a result of an airborne survey over 2.5 million acres in the Lac La Martre area, Jonpol Explorations (TSE) has identified 30 “anomalous areas” and acquired 23,000 acres of ground.
T & H Resources (TSE) and Tyranex Gold (CDN) can each earn a 20% interest in Jonpol’s acquisition-exploration program by paying Jonpol 200% of its costs. Additional areas are being acquired.
— Leeward Capital (VSE) will ship 7.5 tonnes of core from the Outlet Bay Diatreme on Dubwant Lake to Lakefield Research following completion of a 7-hole program in June.
Nearby, Leeward and partner Zappa Resources (VSE) have granted Coast Diamond Ventures (VSE) an option to earn a 50% interest in 214,550 acres on the east side of Dubwant Lake.
Leeward recently reached an agreement in principle for the acquisition of a 100% interest in TerraMin Research Laboratories in Calgary, Alta. The lab will allow Leeward to do its own heavy mineral analysis.
— Monopros has agreed to drop its dispute with Aaron Oil (ASE), without costs to either party. Monopros launched the lawsuit earlier this year, alleging that Aaron reneged on a letter of intent whereby Monopros would have earned an interest in Aaron’s 103,670-acre property northwest of Lac de Gras. Partners Garden Lake Resources (VSE) and RJK Mineral (ASE) are earning a 55% interest in the property by spending $425,000 on exploration by July 15. They recently completed an airborne geophysical survey.
— U.S.-based Monument Resources and Layfield Resources (VSE) have agreed to acquire a 40% interest in the Hecla properties and MacKenzie project at Contwoyto Lake from Kingswood Resources (ASE).
Stewart Jackson, president of Layfield and a director of Monument, has diamond exploration experience in Arkansas and other parts of the U.S. To earn into Hecla, Layfield and Monument must spend $900,000 over three years with a firm work commitment of $200,000 in the first year. The companies must also make scheduled cash payments and issue 100,000 and 75,000 shares respectively.
To earn into the MacKenzie project, the partners must spend $1.7 million over four years and make similar cash and share payments. Kingswood has the right to earn a 75% interest in the property from Acadia Mineral Ventures (TSE).
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