Drillers have moved on site at Kingswood Explorations (ASE) 133-claim property in La Gauchetierre Twp., near Matagami, Que. Earning an interest in the claims, Noranda (TSE) will drill a 1,300-ft. hole designed to test coincident geophysical anomalies (I.P. and deep E.M.) typical of the massive sulphide deposits in the area. Noranda can earn a 75% interest in the base metal bet by spending $2.7 million on exploration and by making cash payments totalling $250,000. Nearby at the Phelps Dodge zinc-copper deposit, Kings-wood will drill a deep hole to test an off-hole geophysical anomaly 600 ft. below the orebody. Kingswood can earn a 100% interest in the deposit from Noranda.
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