Montreal-based
The 17-sq.-km property includes the Kistabiche massive sulphide deposit, where earlier work outlined a 1-million-tonne deposit with average grades of 7.13% zinc, 0.69% copper, and 31 grams silver per tonne. Discovered in 1963, the deposit saw some underground exploration before being put on the shelf.
The property is in the Joutel-Raymond volcanic belt in the northern part of the Abitibi geological subprovince. The belt played host to four former-producing massive sulphide deposits, including Mines de Poirier and Agnico.
Cancor, which will manage the exploration work, must spend $800,000 over the next five years to earn its interest. After five years, Cancor and Soquem will form a joint venture with costs shared equally.
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