Orofino may limit Canuc program if results poor

By spending $5 million on exploration by 1993, Orofino is entitled to earn a 70% stake at Coronation Gulf where reserves of 860,000 tons grading 0.22 oz gold per ton have been outlined so far.

Under an agreement signed in 1987, Dore-Norbaska Resources (TSE) is scheduled to earn 30% in the project by assisting the latter company with project financing.

However, Orofino says Dore- Norbaska has been unable to provide its $600,000 share of a $750,000 summer exploration program. As a result, the amount spent on drilling will be reduced to $425,000.

“Results from the property have been good so far and we don’t want to just drop it (the summer drill program),” said Orofino President Gregg Bowes. ” Inst ead, we will spend $425,000 and if the results are good, we will consider going on to $750,000,” he said. Orofino is a 51%-owned subsidiary of Northgate Exploration.

Under a revised 4,000-ft program, all drilling will be focused on the G/G/X zone where the joint venture intersected 75.8 ft of grade 0.35 oz gold and 11.3 ft of grade 0.21 oz.

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