Osisko pulls out of Duparquet project in Quebec: Montreal Gazette
Osisko Mining will not participate in the Duparquet Mining Camp Project owned by Clifton Star Resources, the Montreal Gazette reported on Friday:
Osisko is evaluating areas for another large open-pit mining operation near Canadian Malartic, while putting most of its exploration efforts into the Hammond Reef gold property in Northern Ontario, an open-pit mining project as large as Canadian Malartic.
Under terms of the original agreement, Osisko would have acquired a 50 percent stake in the Duparquet project in exchange for $70 million in exploration spending, The Gazette reported. A 30-day termination clause applies.