Interest expressed in Dumont property

Record nickel prices have created an interest in a deposit of the base metal situated in northwestern Quebec, Dumont Nickel (ME) of Val d’Or reports.

Two American companies are negotiating for long-term sales contracts, President J. H. Kentish says.

The nickel (and platinum) deposit comprises 56 claims in Launay and Trecesson twps., 17 miles west of Amos. Indicated reserves are 350 million tons averaging 0.34% nickel, with the potential for open-pit mining.

Dumont reports the start this month of a new drilling program consisting of a minimum of 2,000 ft. The company says it is encouraged by the following results from 1987: Hole Width Ni Pd Pt

(ft) (%) (oz/t) (oz/t) 87-1 9.7 0.6 0.03 trace 87-7 21.2 0.6 0.03 0.05 87-11 9 0.37 0.01 trace

The property was optioned to a private company, Magnitec Mining Exploration, in 1985 for five years; that option was dropped in 1986.