The first gold brick from the Astoria gold mine in northwestern Quebec was poured recently by Deak Resources (TSE).
Ore from the Yorbeau project near Rouyn-Noranda, Que., is being trucked to Deak’s Virginiatown, Ont., mill for processing. Mining of the Astoria deposit began in early spring (T.N.M., May 3/93).
Deak acquired the property from Yorbeau by agreeing to place it into production. Under the agreement, Yorbeau is entitled to a 40% net profits interest (NPI) until $3 million has been received. Yorbeau will then receive a 2% net smelter return (NSR) royalty. Yorbeau also has the option of converting either the NPI or the NSR into a 40% working interest.
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