Tres-Or Resources Ltd. is in confidential discussions with a private exploration company to option its Fontana gold project in Quebec.
The company said there is no surety that it will finalize an option agreement for the 200-claim property.
Additionally, Tres-Or is planning exploration on the Guigues kimberlite pipe at its Notre Dame Du Nord property in Quebec at a budget of about C$679,000.
The company said May 28 that the historical exploration a previous operator completed in the early 1990s was "fatally flawed."
A C$440,000 exploration program, expected to start near the end of the third quarter, will collect core samples for the first-ever modern micro-diamond testing of the Guigues pipe.
Tres-Or proposed an additional C$239,000 in exploration expenditures to develop two other high-priority kimberlite pipe targets to collect core samples for micro-diamond testing.