A joint-venture agreement has been signed by Societe d’Exploration Miniere Vior (ME) and Societe d’Exploration Miniere Mazarin (ME) with Cameco (TSE) which will allow Cameco to earn a 60% interest in the Montgolfier-South project in Quebec’s Casa Berardi area.
To earn its interest, Saskatoon-based Cameco must fund exploration work during a 3-year period and make option payments to Vior-Mazarin. The transaction is subject to regulatory approval.
A drilling campaign is planned for December for the property, which Vior and Mazarin said hosts major faults parallel to large iron formations.
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