Faith/Oerron reach agreement

Faith Mines says it has entered into an agreement with Perron Gold Mines, a company with common management, whereby Faith can earn a 50% interest in 7 1/4 mineral claims in Chaste Twp., Que., by carrying out exploration work on the claims and delivering a feasibility study by Feb 3, 1992, together with a firm commitment to place the claims into commercial production within three years at Faith’s sole cost.

The claims are located approximately 2,000 m east of the Sleeping Giant deposit which is scheduled to commence production later this year. The claims have been the subject of a preliminary drill program by Perron, which discovered the D and J veins in the northwest corner, parallel ore zones to the main Sleeping Giant deposit. The deepest intersection from these zones returned 14.98 g per tonne over 1.5 m at a depth of 235 m and 21.89 g over 2.7 m at a depth of 375 m.