Minieres du Nord (ME) of Amos, Que., has expanded its land position in the Matagami Lake region of northwestern Quebec, by staking more claims in Isle-Dieu Twp.
As well as 7,110 acres of geologically favorable mining properties in the northern part of Isle-Dieu Twp., the company has 3,200 acres in neighboring Lozeau Twp., where some drilling was completed last fall. Base metal values encountered at Lozeau will be tested again this year, according to President Jean-Jacques Martel.
Minieres du Nord says the newly acquired properties are situated on strike with a major regional structure predicated on quartz-tourmaline-pyrite over large widths of up to 75 metres.
Anomalous gold values have been encountered on the geological structure by SOQUEM, the exploration arm of the Quebec government, including 0.15 oz. gold per ton over 19.7 ft. (T.N.M., Oct. 2/89). SOQUEM is currently involved in a joint venture with Equity Silver Mines (TSE) on the Olga claims, east of Lozeau in Morris Twp.
Pending the outcome of a $214,000 financing agreement arranged with Societe en Commandite, Minieres du Nord is planning to drill new targets on the western part of its main Isle-Dieu gold property.
The company will also attempt to determine the continuity of zinc- copper mineralization found in Lozeau Twp., while checking the Olga Lake structure.
“Minieres du Nord hopes to find new mineral zones in the Matagami sector since the potential there hasn’t been fully understood,” said Martel.
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