“The property is located in the east part of the Val d’Or mining camp, where historical resources reached 30 million ounces of gold. Our property is also adjacent to a producing gold mine called the Beaufor Mine—owned by Richmont Mines. They’ve produced, over the last 40 years more than one million ounces gold at grades between 7 g/t and 9 g/t. Also, one kilometre south of the Beaufor Mine on the Pascalis-Colombière property, there is a past-producer called the Béliveau Mine. It was owned by Cambior Inc. When Cambior was taken over by IAMGOLD two years ago, we had the great opportunity to buy this asset from IAMGOLD. There had been no exploration at all on the property between when they closed the mine in 1993 and when we bought it in 2008. For the first year and last year we compiled everything from the mine site and all the mine infrastructure. During the first year we also did some exploration drilling north and south of the mine. Since last December, we had all the data in our hands, and we started to do some exploration very close to the mine infrastructure. This is the third press release that we’ve announced for the property. What we’ve defined is a new gold zone just west of the underground mine infrastructure, and it’s very easy to access those new resources that we are presently defining.
“We’ve already started to do the 43-101 with a consulting firm based in Montreal. We intend to release it after we complete the Phase 2 diamond drilling, which will be later this year.
I have spoken with some new shareholders and other major funds that have supported us for several years, and they were all really impressed with the grade. – Marco Gagnon
“We are very pleased with these results. I have spoken with some new shareholders and other major funds that have supported us for several years, and they were all really impressed with the grade. We have economic-grade underground, but we also have a very strong halo, which means that we may also be able to do open pit eventually.
“On some of our other properties we’ve already signed deals with major gold producers. For example, we’ve already signed a deal with Agnico-Eagle on our Dubuisson property. In Timmins we signed a deal last year with Lake Shore Gold, and they will help us to put those assets into production. So, I can say that we will do a deal, or we will bring Pascalis-Colombière to the development stage at least. We have the expertise to bring the property to the development stage. We are all mining professionals, we’ve worked with major mining companies before and we have the in-house expertise to bring the property to the development stage.
“Pascalis-Colombière is our flagship project right now, and we’ll put a lot of effort into bringing this asset to the development stage. But we are also doing some work on our other properties. We are drilling at our Lapaska property, just five kilometres south Pascalis-Colombière. We are very active in the Val d’Or mining camp. Lake Shore Gold is drilling our project in Timmins West; Agnico-Eagle is also drilling on Dubuisson. We have a 20,000-metre drilling program ongoing on five projects right now. But Pascalis-Colombière is our flagship and we want to put the spotlight on it right now.”
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