A 50% interest in the Mosquito property in the Barkerville-Wells area of British Columbia will have been acquired by Lyon Lake Mines (ME) at the end of this year following the expenditure of $6 million on exploration work, the company reports.
During Jan and Feb, 1989, a budget of $1.8 million has been drawn up, with Lyon Lake responsible for providing about $1.3 million and partner Mosquito Consolidated Gold Mines (VSE), $500,000. Further funding for March is to be provided by Mosquito Consolidated.
Lyon Lake President Guy Herbert says the start of a feasibility study for the property is set for April, 1989. He also reports the company has halted work on the Belleterre project in northwestern Quebec, where results to date have been less encouraging, to concentrate on the Mosquito project. Lyon Lake’s partner at Belleterre is Audrey Resources (TSE).
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