Corona options large area near Matagami

To get its foot in the door in northwestern Quebec, Corona (TSE) has agreed to option three blocks of claims northeast of Matagami. The claim blocks, on the east side of Lozeau Twp., cover 6,640 acres. Corona will earn a 50% interest in one of the blocks (40 claims) from Minieres du Nord (ME) in return for payments of up to $40,000 and $250,000 in exploration expenses over a 3-year period. To acquire an additional 25% interest, Corona must pay an extra $60,000 and spend another $250,000 on the property.

Corona has optioned the other two claim blocks from Henry Belanger, a prospector from Amos, Que.

The claims lie on the “Matagami- Olga” break, which hosts the 3.2-km-long, gold-bearing structure discovered by SOEQUEM and Equity Silver Mines (TSE) at the beginning of the year. The fault zone lies north of and almost parallel to the Casa Berardi break.

Corona has announced plans to begin a surface geophysical program on the claim groups soon.