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Lac Pelletier Data

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Lac Pelletier News

  • 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.

Lac Pelletier Information

  • General 2015-05-10
    The property consists of 35 contiguous mining titles covering a total surface area of 722.6 hectares, including two mining concessions and a special permit covering part of the former Stadacona mine. The property covers most of Lac Pelletier and has extension South and East of the lake.

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