Calgary-based Morrison Minerals (TSE) has teamed up with Total Energold (TSE) to participate in an exploration joint venture on 336 claims in the Casa Berardi gold belt of northwestern Quebec. A recently concluded deal between the two companies calls for Morrison to fund 25% of the work on three separate properties optioned earlier this year by Total Energold from Jonpol Explorations (TSE), T&H Resources (TSE), Perrex Resources (ASE), Northway Explorations (TSE) and Cane (ASE).
In order to earn a 60% interest in the 336 claims, Total Energold is required to make option payments totalling $870,000 and spend $4.25 million on exploration by May 1, 1994.
At present, a $700,000 exploration program is under way on the Jonpol-Perrex, Northway and Cane properties, and Morrison says it will retroactively fund its proportionate share of that program.
The properties cover the eastward continuation of geological structures that hosts the Vezza and Douay gold deposits in the area.
According to Morrison, the Northway property yielded an intersection of 0.25 oz. gold per ton over 16.8 ft. during drilling completed in 1989. That gold occurrence, known as the RJ zone, is still open at depth and along plunge to the west.
Morrison and Total Energold are also engaged in several other joint ventures covering some 1,500 claims in the Casa Berardi area. Thick overburden and limited road access into the region have tended to hamper exploration in the past, but the potential for more discoveries remains high.
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