Robex, Bateman in option deal

An option to earn a 25% interest in property in Roy and Mckenzie twps. in the Chibougamau area of Quebec has been acquired by Ressources Robex (ME) from Bateman Bay Mining (ME).

To earn its interest, Robex must spend a minimum $266,000 on exploration work to include 10,000 ft. of drilling. Robex says probable reserves of 748,200 tons grading 1.76% copper and 0.01 oz. gold and 0.49 oz. silver per ton have already been outlined to a vertical depth of 650 ft. The previously worked property lies between the Copper Rand and Portage projects. The agreement is subject to a public financing worth a minimum $350,000 to be undertaken by Robex by Dec. 31.