Lencourt to merge with Quill Res.

Lencourt Ltd. (TSE) has agreed to amalgamate with a Toronto- based private exploration company called Quill Resources.

According to Lencourt, a letter of intent has been signed in which the company has agreed to issue 4.9 million shares to acquire all of Quill’s outstanding shares.

Considered to be well financed with almost $1 million in working capital, Quill has four exploration properties in Quebec and Ontario. Following the merger, a flow- through share issue is planned to provide up to $1 million for continued exploration on three gold properties.

They include the Goodfish property in Kirkland Lake, Ont., where a major drill program will test a number of targets outlined earlier this year.

Lencourt will also undertake a drilling program on Quill’s Ogden Twp. property at Timmins, Ont., where it will focus on several gold- bearing shear zones outlined by surface sampling.

In addition, Quill has an option to earn a 50% interest in a joint venture which holds seven properties in the Grenville area of southeastern Ontario. Quill President Gordon Lewis will become president of Lencourt after the merger.