Perron, D’Or Val in joint venture

Entering into an agreement, subject to regulatory approval, for the joint exploration and development of the Beaufor property in Pascalis Twp. in northwestern Quebec are Perron Gold Mines and D’Or Val Mines. The Beaufor property is situated five miles north of D’Or Val’s Beacon property.

Perron recently entered into an agreement with Louvem Inc. whereby Perron could earn a 50% interest in the Beaufor property by spending $7 million by May 1, 1990.

A $2-million exploration program is planned initially which will include 1,1 00 ft of drifting, 20,000 ft of surface drilling and 25,000 ft of underground drilling. Perron and D’Or Val will share exploration costs equally.

Should the Beaufor property be successfully developed, any ore produced could be readily shipped to D’Or Val’s Beacon property mill, Perron President David Hall reports.