Late this summer, Noranda (TSE) plans to drill-test Fancamp Resources’ (VSE) Dileo Lake base metal property northeast of Chibougamau, Que.
During a trenching program last summer, Noranda outlined high-grade copper-zinc mineralization along a strike length of 300 ft. The upcoming program will test geophysical targets along this horizon.
Noranda can earn up to a 70% interest in the project by spending $1.8 million on exploration and making cash payments to Fancamp.
In other news, Cambior (TSE) plans to drill Fancamp’s Lac Marcaut gold property north of Matagami, Que., early this fall.
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