September 5, 2000
South Malartic Explotation announced that it has acquired a 100% interest in the Mayflower property in Nevada, from Foxpoint Resources Ltd. The transaction calls for a US$15,000 cash deposit, and an advance royalty cost of $1200 per month in year one, $1500 in year two, and $2500 per month thereafter. South Malartic may purchase 100% of the ownership at any time for $1,000,000. A 3% net smelter royalty is payable upon commercial production. New drill results from the Croinor project in Quebec were also reported. Assay results ranged from 8.18 to 16.36 g/t Au over intervals of 0.7 to 1.9 m.
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