SOQUEM options Canspar property

SOQUEM, the Quebec government’s mineral exploration company, has acquired the right to earn a 50% interest in Canspar Resources’ (ME) Portage du Fort dolomite property north of Hull, Que. The 14-claim property straddles the boundary of Litchfield and Clarendon twps., about 90 km northwest of Hull. Subject to regulatory approval, SOQUEM can earn its interest in the high-purity dolomite property by spending $250,000 on exploration within the first year of the agreement. When a joint venture is formed, SOQUEM will assume all exploration and development costs up to $900,000, after which both partners will contribute equally.

Canspar is a junior company whose main objective is to develop industrial minerals, specifically dolomite and feldspar.