An option to acquire a 60% interest in the Grevet property of Ressources Orient (ME) near Matagami, Que., has been reached in principle with Serem Quebec and Exploration VSM (ME), Orient reports.
The Grevet property is in the southeast quarter of Grevet Twp., about 2.5 miles southwest of the polymetallic (zinc, copper, silver) deposits being explored by joint venture partners Serem and VSM.
To earn their 60% interest, Serem and VSM must spend $700,000 on exploration work by June 30, 1991. The pair may earn an initial 50% interest by spending $200,000 by June 30.
Orient President Rejean Gosselin says the geology of his company’s property is characterized by mafic volcanics. An anomaly similar to what was picked up over the Serem- VSM deposit has been outlined on the property.
Ground survey work was undertaken to confirm the airborne results. A drilling program is planned for late January.
Be the first to comment on "VSM and Serem option Orient bet"