Perrex Resources plans to spend $475,000 on exploration of the company’s 103-claim property in Harker and Elliott twps., Ont. Located north of Kirkland Lake, Ont., the properties cover structures believed to have potential for hosting gold mineralization.
Another $264,000 is budgeted for the company’s Iris gold property, also in Harker Twp. Perrex has the right to earn a 45% interest in the Iris property. A $150,000 program is also planned for claims held in Douay and Vezza twps., Que.
In total, Perrex plans to spend $889,000 by the end of February. The funds were raised via an issue of flow-through shares.
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