Montreal-based Normabec Mining Resources (ME) can acquire a half interest in the Noyell gold property in Quebec from Soquem.
To do so, it must spend $400,000 on exploration over three years, including $150,000 in the first year.
The property lies south of Matagami, within the Douay Corridor, an intense deformation zone which hosts the Vezza, Northway, Flordin and Douay gold deposits. Combined, these deposits contain more than 21 million tons of ore. Previous work at Noyell outlined two gold-bearing structures known as the East and West zones. Drill intercepts from the East zone include 5.05 grams gold per tonne over 4.4 metres, 3.1 grams over 1.7 metres and 2.5 grams over 3.7 metres. Intersections from the West zone include 11.8 grams gold over 1.7 metres, 18.7 grams over 1 metre and 2.3 grams over 6.2 metres. Soquem and Normabec will drill 2,000 metres to verify and test for extensions of these zones.
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