Graphicor options SOQUEM property

An option to earn a 50% interest in the Lac Carmin graphite property near St. Jovite, Que., has been acquired by Exploration Graphicor from SOQUEM, the Quebec Crown- owned mining exploration company. Graphicor, based at Ste-Scholastique (Mirabel), Que., may earn a 40% interest by spending $600,000 on exploration work by Aug. 31, and may earn an additional 10% interest by spending $400,000 by Dec. 31.

Once it has obtained its 50% interest, Graphicor will become manager of the exploration and development work and the commercial operation of any deposit identified on the property.