A new exploration arm has been acquired by Societe d’Exploration Miniere Mazarin (ME), which wants to concentrate on development of its graphite property near Fermont, Que.
Mazarin and Gestion Ressources Quebec Inc., a private company wholly owned by Mazarin President Regis Labeaume, jointly purchased 1.44 million shares of Petro-Gaspe (1966) Inc.
The share purchase gives Mazarin and Gestion effective control of Petro-Gaspe, which has been exploring for oil in the Gaspe Peninsula area of Quebec.
Petro-Gaspe is hoping to acquire gold and base metal properties for exploration purposes. The junior has already purchased from Mazarin a 50% interest in the Fiedmont and Samson gold properties in northwestern Quebec, through the issuance of 950,000 shares and an option for Mazarin to acquire a further 950,000 shares.
Mazarin recently struck a deal with Princeton Mining (TSE), through Princeton’s wholly owned subsidiary Cassiar Mining, to develop the Lac Knife graphite property.
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