Issue link: http://resourceworld.uberflip.com/i/1012424
A U G U S T / S E P T E M B E R 2 0 1 8 www.resourceworld.com 11 Below are Québec project summaries. Abcourt Mines Inc. [ABI-TSXV; ABMBF- OTC; FSE, Berlin] reported that for the three months ended March 31, 2018, there was a gross profit of $982,130 compared to gross profit of $392,722 for the same period the previous year from its 100%-owned Elder gold mine near Rouyn-Noranda. The company is updating feasibility studies at its suspended Abcourt-Barvue Mine north of Val d'Or. Abitibi Royalties Inc. [RZZ-TSXV; ATBYF-NASDAQ Int'l] holds a 3% NSR royalty on portions of the Odyssey Project, East Malartic, Jeffrey Zone, eastern por- tions of the Barnat Extension, and a 2% NSR on portion of the Gouldie and Charlie zones, all at the Canadian Malartic Mine near Val d'Or, 50/50-owned by Agnico Eagle/Yamana Gold. The company is build- ing a portfolio of royalties on early-stage properties near producing mines. Agnico-Eagle Mines Ltd. [AEM-TSX, NYSE] has 100% interests in and operates three gold mines in Québec – the Lapa, La Ronde, Goldex, and has a 50% interest in the Canadian Malartic Mine (Yamana 50%). Arianne Phosphate Inc. [DAN- TSXV; DRRSF-OTC; JE9N] is advancing the Lac à Paul phosphate rock project in the Saguenay-Lac-Saint-Jean region. It received $1.5 million grant from the Québec Ministry of Energy and Natural Resources. The funding is part of the government's plan to advance the Québec phosphate (apatite) sector. Arianne will use the funds to produce additional high- purity phosphate concentrate and conduct pilot-scale tests. Azimut Exploration Inc. [AZM-TSXV] and SOQUEM have planned a $1.5 million exploration program on seven gold proj- ects in the James Bay region. Results of exploration completed on five gold proj- ects in 2017 within the Azimut-SOQUEM Strategic Alliance covering the James Bay–Eeyou Istchee Territory led to the dis- covery of new prospects for gold, cobalt, copper and rare earth elements. BonTerra Resources Inc. [BTR- TSXV; BONXF-OTC; 9BR1-OTC] reported Gladiator Project drill results of 44.9 g/t gold over 3.0 metres, extending a high- grade ore shoot of the Footwall Zone. BonTerra is acquiring Metanor Resources Inc. [MTO-TSXV]. Canada Strategic Metals Inc. [CJC- TSXV; CJCFF-OTCBB; YXEN-FSE] and Matamec Explorations Inc. [MAT-TSXV; MHREF-OTCQX] closed the merger to create a new gold exploration company focused on the James Bay region called Québec Precious Metals Corp. Canada Strategic also acquired the three gold projects of Sphinx Resources Ltd. [SFX- TSXV], including Sphinx's 50% interest in the Cheechoo-Eleonore Trend Project, as well as the remaining 50% interest in that project held by Sirios Resources Inc. Cartier Resources Inc. [ECR-TSXV] released new results from its 33,000-metre drill program on the 100%-owned Chimo Mine project 45 km east of Val d'Or. An intersection grading 86.1 g/t gold over 1.5 metres was intersected along the zone 6C extension (structure 6C). Cartier (50% optionor) and SOQUEM intersected 29.6 g/t gold over 2.0 metres and doubled the extension at depth at the Fenton deposit 47 km southwest of Chapais. Commerce Resources Corp. [CCE- TSXV; CMRZF-OTCQX; D7H-FSE] has completed a positive Preliminary Economic Assessment on the Ashram rare earth project in northern Québec. Highlights include a positive cash flow from a 4,000 tpd open-pit operation with a 25-year mine life, a pre-tax and pre-finance NPV (10% discount) of $2.32 billion, a pre-tax/ pre-finance IRR of 44% and a pre-tax/pre- finance payback period of 2.25 years. Critical Elements Corp. [CRE-TSXV; CRECF-OTC; F12-FSE] wants to accelerate the Rose lithium-tantalum project in the James Bay area to production and has held discussions with parties in Asia. The com- pany successfully completed spodumene pilot plant work with outstanding results compared to industry standards. Its low iron and mica deposit yielded recover- ies up to 89% and consistently achieved concentrate grades of up to 6.56% Li 2 O. Critical Elements has other lithium and precious/base metal projects in Québec. Durango Resources Inc. [DGO-TSXV; ATOXF-OTCQB; 86A-FSE] is launching a drill program on its 100%-owned grass - roots Découverte gold prospect located 100 km from Chibougamau, Québec. EM, MAG and resistivity geophysical surveys have previously been completed as well as soil sampling that identified 12 drill targets along an east-west trending shear zone. Under the supervision of Chief Geologist Danae Voormeij, P.Geo., 20 holes totaling 2,400 metres will test three targets for fold- nose hosted orogenic gold mineralization. The 5,700-hectare Découverte property has logging road access, is 10 km from Route Nord, has power on site, water for drilling and an exploration camp nearby. The Découverte property is 60 km southwest from the past-producing, open pit Troilus Mine that produced over 2 million ounces of gold and nearly 70,000 tonnes of copper. Troilus Gold Corp. [TLG-TSXV] has stated that it would like to re-open the mine and recently reported drill results of 41 metres grading 2.28 g/t gold on its property. Goldcorp is also acquiring mineral properties in the area. Durango is also exploring its 100%- owned gold prospects near Windfall Lake where till and rock outcrop sampling has been completed with assays ranging up to 3.38 g/t gold. For the summer program, further rock sampling is planned for unex- plored areas on the property. In addition, Durango is planning a test drilling program on its 100%-owned, hard rock, lithium-bearing (spodumene) property adjacent to Nemaska Lithium's advanced-stage Whabouchi Mine. Marcy Kiesman, CEO of Durango, told Resource World , "After many years of surveying, planning and sampling our QUÉBEC