The company has been forced to revise the budget for the Whabouchi lithium mine and Shawinigan electrochemical plant upward by C$375 million.
Quebec Mining News
Indicated resource is 423,000 ounces of gold averaging 1.22 g/t Au.
Two phases are planned to de-risk and expand on the current resource report last November.
Wallbridge has plans to start its 2019 drilling program in mid-February.
The junior explorer reported this week that Grasset’s H1 zone has now been intersected for 1,140 metres along strike.
The main zone contains indicated resources totaling 10.8 million tonnes grading 1.22 g/t gold for 423,000 oz. of gold.
Strategic alliance expands Barrick’s exploration footprint in the Guiana Shield, a significantly under-explored region and one of the most prospective in the world for large scale gold discoveries.
The current program is planned in two phases totaling about 5,000 metres.
Core from work at the tonalitic plug returned 31.55 g/t gold over 1.6 metre.
The company is on track to kick off commercial production at its Lamaque project in Val d’Or, Quebec, during the first quarter of the year.
The results are high grade.
TomaGold will own a 50% interest in the Monster Lake property, with IAMGOLD holding the other 50%.
The company began an 800,000-metre drill program in 2015, and is currently focused on infill drilling at the main Windfall and Lynx deposits.
The company will continue to explore the anomaly as well as look for gabborites containing cobalt.
The deposit is one of the highest grade resource-stage gold projects in Canada.
The Toronto-based company, which already owns 15% of Reunion, said the fresh $2.27-million investment leaves its stake in the Quebec-based miner unchanged.
The complex produced more than 1.0 billion lb. of copper and almost 206,000 oz. of gold.
Troilus acquired the new land it is calling Troilus North from Emgold Mining Corp. for 3.75 million of its common shares and $250,000 in cash.
At 17.9% graphitic carbon, the Lac Gueret deposit is likely one of the highest grade graphite deposits in the world.
Windfall, which lies within the traditional territory of the Waswanipi Cree First Nation, is about 700 km northwest of Montreal.
They don’t call it “Windfall” Lake for nothing.
Bonterra says two rigs are currently in operation at Gladiator.
The Innu First Nations filed their lawsuit in 2013, seeking compensation of $900 million.
The two hope to leverage their joint expertise and capability on projects of importance to the mining sector.
The Z87 pit ultimately ran 350 metres deep and had a strike length of about 900 metres.