The Barry Lake joint venture has settled with Cominco (TSE) and Agnico Eagle Mines (TSE) over disputed claims next to Barry Lake’s Lac Rouleau Zone 18 discovery.
The joint venture, a 50-50 deal between Beaufield Resources (VSE) and Falconbridge, has acquired three fractional claims next to Zone 18, and 96 adjoining claims in Quebec’s Urban and Barry twps. Cominco and Agnico retain a 2% net smelter return.
In 1987-88, drilling indicated a “mineral inventory” of roughly 500,000 tonnes grading six grams gold per tonne over an average width of two metres. Beaufield says the mineralized shear is open along strike to the northeast and additional claims have been staked to cover the trend.
Falconbridge’s interest is under option to Falconbridge Gold (TSE).
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