Louvem options Val d’Or properties

Montreal-based Louvem Mines (TSE) has optioned 102 claims northeast of Val d’Or, Que., from privately owned Gestion GMS and two other parties.

The junior can earn a 50% interest in the claims by spending $80,000 on exploration by Oct. 15, 1993, and $420,000 by March 1, 1995. It can then acquire the remaining half interest by issuing 2.5 million shares and granting a 2.5% net smelter return to the vendors by Sept. 1, 1995. The properties are in Serigny, Trevet and Baudin twps.