SOQUEM, the mining exploration wing of the Quebec government, recently signed separate agreements allowing it to earn a 50% interest in two Chibougamau, Que., properties. Under an agreement with Cameco, SOQUEM can earn a 50% undivided interest in a block of 55 claims known as the Lac James property.
“Exploration data so far have indicated the presence of several significant geophysical anomalies which warrant further work,” said SOQUEM President Andre Laurin. The Lac James claims are contiguous and on strike with Campbell Resources’ (TSE) Joe Mann gold mine.
SOQUEM has also signed a joint venture deal with Quartz Mountain Gold (TSE), allowing it to earn a 50% stake in the 540-claim Lac Eva property, 30 km north of Chibougamau. To earn the interest, SOQUEM must spend $300,000 on the property before July 17, 1992.
Zinc-bearing mineralization in boulders, as well as in outcrops in a geological environment that may host massive sulphides, has already been reported at Lac Eva. The property is contiguous to a SOQUEM property containing several zinc showings.
Future work at Lac Eva is expected to include line cutting, geophysics and trenching.
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