A drill program will begin in April on Placer Dome’s (TSE) Turquetil gold project, 130 miles southeast of Rankin Inlet, N.W.T.
The drilling will test several new gold targets along the extension of the main Turquetil gold trend. Previous drilling on the main zone by Noble Peak Resources (ASE) outlined reserves of 550,000 tons grading 0.184 oz. per ton. Placer can earn a 60% interest in Turquetil from MH Resources by making option payments totalling $675,000 and spending $5 million on exploration. MH Resources is owned 40% by Noble Peak, 40% by Dejour Mines (TSE) and 20% by the privately owned MH syndicate.
In 1993, MH Resources will also explore several base metal showings on its 100% owned MAG claims in the Heninga Lake area, south of the Turquetil trend.
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