Nearly seven years after it reopened the former Vinray gold mine in Malartic Twp., Quebec, Black Cliff Mines of Toronto has optioned the property to Rouyn, Quebec-based Exploration Essor.
Exploration Essor has an option to earn a 50% equity interest in the property by making exploration expenditures of $2 million over two years.
Consultants to Essor have estimated mineral inventory in this property at 130,000 tons averaging 0.24 ounces gold per ton. Black Cliff is finalizing the acquisition of several mineral properties in Ontario and Quebec.
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