An agreement has been reached between Maufort Resources and Ressources Minerales DeMontigny whereby the latter may increase its interest to 50% in the Siscoe- extension property in northwestern Quebec by contributing $10 million for exploration purposes during the next three years.
New name for the property, located near Lake Demontigny, is the DeMontigny mine. Located in the same area of the province are the old Siscoe and Sullivan mines, properties which are both within the control of the Maufort organization.
DeMontigny will act as manager of the exploration work. Exploration-related work is in progress, with funds provided by La Societe en Commandite Maufort 1987. The above agreement is subject to regulatory approval.
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