Lixor acquires Orleans option

An option to acquire a 50% interest in 18 claims in Courville Twp. in northwestern Quebec has been acquired by Lixor (ME) from Ressources Orleans (ME).

The option sold to Lixor was initially granted by FinNeth Exploration to Orleans.

Lixor has paid $20,000 and must spend $100,000 by Feb. 28, an additional $200,000 by Feb. 28, 1991, and an additional $200,000 by Feb. 28, 1992, to earn the 50% interest. A joint venture would then be formed with FinNeth, with Lixor acting as operator. Work on the property was started up in December.

Lixor recently completed a private placement worth $278,000 with La Societe en Commandite d’Exploration Miniere Lixor 1989, involving the issuance of 329,211 shares of Lixor.