Noront expands Ontario holdings

Toronto-based Noront Resources (NOT-V) has several new agreements in the offing.

* The company has agreed to a 50-50 joint venture with private parties at its 195-claim base metal prospect in Hurdman twp., northwest of Timmins, Ont.

The new group will earn its half interest by conducting a drill program this year.

* Noront is also acquiring the privately held DKO gold property, in Gauthier twp., near Kirkland Lake, Ont. After paying $10,000 and issuing 100,000 shares to the vendor, Noront must pay $15,000 per year for two years and spend $100,000 annually on exploration for three years. The vendors will retain a 3% net smelter return royalty.

* Lastly, Noront is buying six privately held claim blocks totalling 544 ha at the eastern end of a gold and base metal belt in the Missanabie-Renabie area, near Wawa, Ont.