The search for gold and diamonds is keeping Lumina Investment (VSE) active in the Northwest Territories and Saskatchewan.
The Vancouver-based junior, of which Robert Hunter is president, claims varying (75-100%) interests in more than 1.8 million acres.
In the Territories, Star Dance Resources (VSE), a Murray Pezim company, is earning a half interest in Lumina’s two Lac de Gras area gold prospects which surround the George and Goose Lake gold discoveries of Homestake Mining. Star Dance will spend $2.5 million, including $1.2 million this year. Work has included an airborne geophysical survey, followed by a ground, geochemical bulk-sampling. Preliminary results are expected soon. About 40 miles to the north, Lumina has staked 55,000 acres; a $1-million budget, which includes drill work, has been drawn up for 1994 for the gold property.
On the Brodeur Peninsula of Baffin Island, Lumina has an 833,000-acre property where about $300,000 has been spent since last July. In southwestern Saskatchewan, Lumina has uncovered 70 geophysical targets exhibiting the characteristics of kimberlite, a host rock for diamonds. A $750,000 program is under way.
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