NEWS ROUNDUP — Soquem options Quebec copper play

In an agreement with Virginia Gold Mines (ME), Soquem will acquire a 50% interest in the Sagar-I copper property, 85 km south of Fermont, Que.

Soquem must subscribe to a private placement in Virginia totaling $50,000, spend $200,000 on exploration prior to the first anniversary and an additional $300,000 prior to the third anniversary.

Previous sampling on the 52-sq.-km property returned up to 0.8% copper and 1.8 grams per ton gold-platinum-palladium in an ultramafic intrusion. The partners are planning to drill-test several geophysical and geochemical targets this summer.