An option agreement has been signed between Cache Explorations (ME) and Placer Dome (TSE) on Cache’s Riviere-a-Pierre property northwest of Quebec City.
Under the agreement, Placer can acquire a 60% interest in the property for cash payments totalling $200,000 by Jan. 15, 1995, and exploration expenditures of $750,000 by Jan. 15, 1996. A total of $50,000 must be spent on exploration prior to Jan. 15, 1993.
The 262-claim property is contiguous with Soquem’s Dussault property where 1991 surface sampling returned values up to 5.4% zinc and 0.4% copper over three metres (T.N.M., Oct. 21/91). Anomalous gold and silver values were also encountered.
Two geophysical anomalies, possibly base metal-related, have been outlined on the Cache property.
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