Inmet options Lemoine

Toronto-based Inmet Mining (IMN-T) has optioned the Lemoine base metal property in Quebec’s Chibougamau mining camp from Loubel Exploration.

To earn a 60% interest, Inmet must spend $3 million on exploration over 60 months and buy shares of Loubel valued at $400,000 over the same period. The property covers an exhalative horizon that hosts the past-producing Lemoine mine, which was one of the most profitable operations in the camp. From 1973 to 1985, Lemoine produced 758,070 tonnes grading 9.56% zinc and 4.2% copper, plus 4.54 grams gold and 83.8 grams silver per tonne, from surface to a vertical depth of about 500 metres.