Quebec mining group raises $23.4 million

Quebec-based Groupe Minier O, comprising seven junior mining exploration companies, raised slightly more than $23.4 million in 1987 for its various exploration projects.

Bulk of the funding came from Exploration and Mining Ltd. Partnership F and G 1987, F and G II 1987 and Quatuor, says the mining group. The member companies and their allotted funding are: Oasis Resources $7,588,000 Messeguay Mines $7,338,000 Farboro Resources $1,952,000 Omega Exploration $1,877,000 Oz Explorations $1,877,000 Norwood Exploration $1,852,000 Onyx Resources $920,000

Among the projects to benefit from this funding are the Joubi gold prospect in the Val d’Or, Que., area (Oasis and Messeguay, $4 million) with Western Quebec Mines; the Launay-Privat gold prospect near Rouyn-Noranda, Que. (Messeguay, $2 million); and the Delta platinum prospect in Quebec’s Ungava region (Oasis, Messeguay, $1.8 million) with Falconbridge Ltd.