NSR helps finance exploration work on Rand Malartic

Toronto-based NSR Resources has obtained regulatory and shareholder approval to finance about half of a $4.4-million exploration program at the Rand Malartic property in Quebec. The balance of the funding will be provided by nsr’s joint venture partner, Cogesco Mining Resources, which holds a 36.8% interest in the property.

Having obtained access to the 67 zone reserves at the 435-ft level, nsr is confident the property holds good promise for future development, the company says. Provided, that is, known reserves, particularly those of the 67 zone, are expanded. Present probable and possible reserves outlined for this zone stand at 66,700 tons grading 0.36 oz per ton, according to nsr.

A mineral inventory of 95,700 tons averaging 0.11 oz per ton has also been identified elsewhere at the property as a guide for future exploration.

Exploration work for 1987-88 will focus on underground excavations to expose the 67 zone on several sublevels. One reason for this is to enable mill-testing of a representative bulk sample.