The second phase of an undergrund exploration program at the Sleeping Giant gold project 40 miles north of Amos, Que., has been extended, Cambior (TSE), the operator, and Aurizon Mines (TSE) report.
Main target of the exploration program has been the 20 zone. Cambior will extend the second phase until the end of June at an approximate cost of $2 million in an attempt to expand the reserve base. The program extension will enable work to continue on the 15 and 20 zones and other areas. Cambior is earning a 50% interest in the project under an agreement that calls for exploration and development expenses of $12 million by July, 1993. As of the end of February, Cambior had spent about $5.5 million. Also, Cambior has started up a 7-hole drilling program representing 10,000 ft. on Aurizon land in the same area which is not included in the Sleeping Giant project; Cambior may earn a 50% interest in that property by spending $1.5 million on exploration work by July, 1995.
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