The exploration division of Noranda (TSE) has completed a 4-hole, 5,000-ft. drill program on the Dileo Lake base metal property north of Chibougamau, Que.
Although none of the holes returned significant values, three of them, drilled near the original surface showing, did intersect substantial chlorite mineralization. Also, a down-hole, pulse-electromagnetic survey outlined two off-hole anomalies.
Noranda is testing the off-hole anomalies in a 3-hole, $100,000 follow-up drill program. The company can earn a 70% interest by spending $1.8 million on exploration and paying $230,000 over six months.
The property is under option from Fancamp Resources (VSE).
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