Aur Res./Louvem discovery ripples over Val d’Or camp

So it’s no surprise that at least seven companies have announced that they hold or plan to acquire land near the discovery claims.

Globex Mining (ME) of Rouyn- Noranda, for example, said it has been granted an option by President Jack Stoch to acquire a 50% stake in 19 claims which are adjacent to the eastern boundary of the discovery area.

In return Stoch will receive $15,000 cash, 100,000 shares and a 2% net smelter return. The remaining 50% stake in the claims are being acquired from Stoch by Montreal-based Murgor Resources (VSE) for $20,000 cash and 200,000 shares.

Cartier Resources (ME), of Toronto holds a 5% net profit interest in six of Globex’s 19 claims and Cartier is currently negotiating to expand its interest.

Vancouver-based High Frontier Resources (VSE) says it is negotiating to acquire a number of blocks in both Louvicourt and neighboring Pascalis Twp. But the company has yet to make any concrete announcements.

Also active in the area is Rogi Exploration Inc. (ME). As a joint venture partner with Aur Resources on the 38-claim Obaska property four miles northeast of the discovery zone, Rogi is planning a $100,000 exploration program. The program will attempt to evaluate the significance of a number of previous drill results, including 2.9 ft of 3.56% zinc and 3 ft of grade 2.56% copper per ton.

Before Aur announced its Louvem copper-zinc discovery, the company signed an agreement entitling it to earn a 70% stake in three Louvicourt Twp. properties held by Consolidated Abitibi Resources (ME).

On one of the properties, which lies adjacent to the southern boundary of the discovery claims, an 11-ft intersection of grade 20% copper was recorded during the 1940s, Abitibi President Jack Kentish told The Northern Miner.

“The Aur, Louvem strike has created a lot of excitement around here and its not over yet,” said Kentish who has received enquiries about the discovery from as far away as London, England.

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