An agreement has been finalized between Mazarin Inc. (TSE) and Cogema Canada whereby the latter may earn a 50% interest in the Mazarin property located north of Amos in northwestern Quebec.
To earn its interest, Cogema Canada, a wholly-owned subsidiary of Cogema of France, must spend $1 million on exploration work and make cash paymments of $110,000 in each of the next three years.
Cogema Canada, among other projects, has a 36.4% interest in the Cigar Lake joint venture uranium project in Saskatchewan.
The Mazarin property is located adjacent to the Ligneris property where Vior Inc. (ME) has made a deal with Placer Dome (TSE) whereby Placer Dome may acquire a 50% interest in the project by spending $3 million on exploration work in addition to making cash payments.
Vior reports a recent intersection from the property of 39.3 ft of 0.35 oz gold per ton, including 27.6 ft of 0.46 oz.
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