EXPLORATION ROUNDUP — Placer Dome to explore Akow Lake

Toronto-based Moss Resources (MRS-T) has dealt Placer Dome (PDG-T) an option on the Akow Lake property, 120 km north of Pickle Lake, Ont.

The Akow Lake claims cover the northern extension of the iron formation that hosts the Musselwhite gold deposit, ownership of which is shared by Placer Dome, with 68%, and TVX Gold (TVX-T), with 32%. Musselwhite is scheduled for production in 1997.

The partners can earn a 55% interest in Akow Lake by paying Moss $150,000 and spending $1 million on exploration. They can then earn another 20%, in return for $60,000 cash and $750,000 in exploration funding.