An option on the Douay gold deposit near Joutel, Que., has been dropped by Cambior (TSE). The agreement had required Cambior to finance development of the deposit to earn a 50% interest from Vior Mining Exploration (ME).
Vior and Soquem had outlined 590,000 tonnes grading 9.9 grams gold per tonne on the Douay West zone. Cambior says the project was not sufficiently profitable, considering it had to finance development and share profits with Vior. Vior will examine other sources of financing for the project.
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