For the third consecutive year, Mazarin Inc. (TSE) and Fonds d’Exploration Miniere du Nouveau- Quebec are exploring in the area of Fermont in northern Quebec, where showings of kyanite, graphite and silica have been uncovered.
Cost of this year’s exploration program, being borne by Mazarin, is $500,000. Focus of this year’s work is further evaluation of the grade and size of the kyanite and graphite occurrences (the minerals have refractory applications); a drilling campaign is planned for this fall.
Fermont is located in an area known for its iron deposits. In an effort to help diversify its economic base, the municipality created its own corporation, Fonds d’Exploration.
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