Quebec-based Noveder (NED-M) has begun exploring in the vicinity of the Nugget Pond gold mine, near Baie Verte, Nfld.
The junior sold its remaining 40% interest in Nugget Pond to Richmont Mines (RIC-T) in 1996 but retained interests in several gold and base metal properties that straddle the same geological formation.
Noveder plans to spend $2 million, primarily on geophysical surveying and diamond drilling, at the 243-claim Fleur de Lys property.
Trench sampling last year yielded up to 19.8% copper, 0.31% zinc and 23.9 grams silver per tonne.
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