Tandem sees another busy year

With a number of ongoing projects, Tandem Resources (ME) will be quite active in exploration again this year, President Stanley G. Hawkins told shareholders attending the company’s annual meeting, expressing confidence that adequate financing will be available.

Its two main undertakings are the Moss Lake project in northwestern Ontario operated by Storimin Exploration (ASE) and the Vezza project near Matagami Lake in northwestern Quebec, operated by North American Rare Metals (ME). Tandem is the major shareholder in both of these companies.

Two diamond drills are currently working on the Moss Lake project where over 150,000 ft of drilling has already been carried out, as well as some 3,300 ft of underground ramp opening from which 900 ft of drifting on the 200-ft level opened 455 ft of continuous ore grading 0.18 oz across drift width.

With numerous other drill intersections yet to be investigated, serious consideration is being given to another underground program here. Various financing avenues are being discussed, Hawkins said, adding that several major companies have been expressing interest.

Surface drilling with two machines is also continuing on North American’s Vezza project, where drilling indicated reserves now stand at 1.8 million tons grading 0.18 oz (uncut). Here too, several major companies are expressing interest that could lead to an underground program.

North American Rare is also participating in a drill program just getting under way on property in the Pickle Lake area to test a promising-looking gold discovery made last fall. It currently holds a 25% interest in this joint venture, which will be increased.