Montreal-based Maude Lake Exploration‘s (MAU-V) has received a grant of $340,000 from the Quebec Department of Natural Resources as part of a junior exploration company support program.
Of the $340,000, $240,000 will be used to finance 80% of an exploration program on its 50%-held Comtois property near Lebel-sur-Quvillon, Que.
The company is in the midst of a 4,000-metre drilling program at Comtois. The program is aimed at increasing resources in the North and South zones, which collectively stand at 1.8 million tonnes grading 4.5 grams gold per tonne, including 695,485 tonnes at 9.05 grams. The program also will test geochemical anomalies along the northern extensions of the known zones, and seek to relocate two gold zones that had previously returned grades of 3.43 grams gold over 5.3 metres, 5.3 grams over 1.5 metres, and 10.4 grams over 2.6 metres. Possible extensions to these zones will also be evaluated.
The remaining $100,000 of grant money will be used for general corporate purposes.
Maude Lake is earning a 50% interest at Comtois through the expenditure of $1.3 million on exploration and the payment to Cameco (CCO-T) of $200,000 in cash or shares.
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