A drill program by Lyon Lake Mines (ME) has started on the Waconichi gold prospect 50 miles north of Chibougamau, Que.
Eight holes will be drilled to test priority targets determined by geological interpretation and field geophysical surveys carried out by Lyon Lake. The budget for the initial program is $360,000.
Lyon Lake acquired the 8,100-acre prospect based on results of a LANDSAT (satellite) study and on geological and geophysical data for the region. Several major companies — including Noranda, Inco and Soquem — are reported to be active in the Waconichi area.
Lyon Lake also has mineral projects in Costa Rica and is completing a second phase of work on the Beta Vargas gold concession in that country.
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