Moss Res. makes exploration plans

Exploration plans this year for Moss Resources (ASE) include further drilling to delineate reserves on the Kasagiminnis Lake, Randall Lake and Opapimiskan Lake properties, and comprehensive exploration on several of the more promising prospects including Watson Lake and Wapamisk Creek.

In April of this year, Moss amalgamated with Van Horne Gold Exploration to form a company with interests in 1,264 claims in several parts of Ontario. The largest shareholder in Moss, which has about 5.8 million shares outstanding, is President Harry Hodge, who has a 28.9% interest (directly and indirectly).

Among the investments of Moss is a 16.4% interest in sister company Power Explorations (TSE), of which Hodge is also president. Moss and Power are involved in several joint venture projects. A merger involving Moss and Power, Hodge told shareholders at the annual meeting, is not currently being actively pursued.

Last year Moss and Placer Dome (TSE) entered into an agreement giving the latter an option to earn a 50% interest in the Fault Creek property located adjacent to the Dona Lake mine property in northwestern Ontario, by spending $1 million. Moss has a 60% interest in the property, and Canada Northwest Energy a 40% interest.