Duquesne Ottoman Data
Xmet Options 100% of Win-Win Project Adjacent to and along strike to IAMGold's Monster Lake 2015-05-11
TORONTO, ONTARIO--(Marketwired - May 11, 2015) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to announce that it has acquired a 100% option on the Win-Win Project located 35 kms southwest of the town of Chibougamau, Quebec. The Win-Win Project is adjacent to and immediately north of the IAMGold and TomaGold project called Monster Lake. In November 2013 IAMGold optioned a 50% interest in the Monster Lake Project in return for an investment of $17.575 million over a five year period. The agreement is subject to approval of the TSX Venture Exchange (the "Exchange"). See Figure 1 below for Map of Xmet's Win-Win claims.
Xmet Completes Initial Diamond Drill Program on Grasset Project 2015-04-09
TORONTO, ONTARIO--(Marketwired - April 9, 2015) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to report that it has completed the initial phase of the diamond drilling program on its wholly-owned Grasset Property, located along the eastern extension of the Detour-Sunday Lake deformation zone in the highly prolific Abitibi Mining District of Quebec.
Xmet Provides Grasset Drilling Update, Expands Program 2015-03-16
TORONTO, ONTARIO--(Marketwired - March 16, 2015) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to announce that it thus far completed drilling eight holes on its Grasset Project out of the ten holes originally planned. Three of these holes encompassing approximately 460 metres have been cut and sent to the lab for assays. The remaining completed holes are being cut and processed and will be sent for assays in the near future.
Duquesne Ottoman Information
General 2015-05-10The Duquesne-Ottoman property has been the subject of documented exploration since 1927. A total of 239 diamond drill holes totaling 65,063 m have been documented on the Duquesne West block and an additional 8 holes totaling 3,106 m have been reported on the Ottoman block. In 1983 Claremont Mines sunk an 80 foot (24 m) shaft on the Duquesne West block and reportedly produced a bulk sample in the order of 425 tons. The reported grade of the bulk sample was 0.11 opt (~3.8 g/t Au).
Nearby Location News
Mag Copper Announces Termination of Option Agreement 2016-02-18
TORONTO, ONTARIO--(Marketwired - Feb. 18, 2016) - Mag Copper Limited ("Mag Copper" or the "Company") (CSE:QUE) announces that it has received notice of termination of the option agreement between Globex Mining Enterprises Inc. and Mag Copper with respect to the Magusi and Fabie Bay properties located near Rouyn-Noranda, Quebec.
Thundermin Resources Inc. Provides Update on Pelletier Lake Gold Property, Rouyn-Noranda, Quebec 2015-09-17
TORONTO, ONTARIO--(Marketwired - Sept. 17, 2015) - Thundermin Resources Inc. ("Thundermin") (TSX VENTURE:THR) announces that the agreement with QMX Gold Corporation ("QMX") with respect to the Pelletier Lake Gold Property located near Rouyn-Noranda, Quebec ("Pelletier Lake") has been terminated and Thundermin's 100% ownership of Pelletier Lake has been re-instated.
On September 1, 2005, Thundermin granted QMX an option to acquire a 100% interest in Pelletier Lake subject to, among other things, Thundermin's right to receive a 2.5% NSR once the property was put into commercial production (the "QMX Option"). The QMX Option was the subject of an arbitration process which in May 2014 determined that QMX's right to earn a 100% interest in Pelletier Lake was subject to QMX achieving commercial production at Pelletier Lake by February 28, 2018 and making certain annual advanced royalty payments to Thundermin by August 31st in each year until commercial production was achieved. QMX did not comply with the terms and conditions established by the arbitrator and as such on August 31, 2015 all of QMX's rights with respect to Pelletier Lake were terminated.
Mag Copper and Partners to Go Underground at Globex's Magusi Deposit 2015-04-02
ROUYN-NORANDA, QUEBEC--(Marketwired - April 2, 2015) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRANKFURT:G1M) (OTCQX:GLBXF) is pleased to inform shareholders that Mag Copper Limited which has an option on Globex's Magusi-Fabie Bay polymetallic massive sulphide property, has announced today a non-binding letter of intent with AR2K Industries Ltd. and J.S Redpath Limited to form a joint venture for the purpose of conducting a bulk sample on the Magusi deposit and depending on the results of the bulk sample, bringing the Magusi deposit into commercial production. Shareholders are referred to today's Mag Copper announcement for details.
Mag Copper Signs Loi With AR2K and Redpath to Form A Joint Venture on the Magusi Copper/Zinc Property 2015-04-02
TORONTO, ONTARIO--(Marketwired - April 2, 2015) - Mag Copper Limited ("Mag" or the "Company") (CSE:QUE) announced today that it has entered into a non-binding letter of intent (the "LOI") with AR2K Industries Ltd. ("AR2K") and J.S. Redpath Ltd. ("Redpath") to form a joint venture (the "JV") for the purpose of conducting a bulk sample on the Magusi Property (the "Property") and, depending on the results of the bulk sample, bringing the Property into commercial production.