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Graphite in Quebec
TSXV: LMR
FSE: DH8B
OTC: LMRMF
Matagami. Production is expected to begin
in late 2014. Development is proceeding on
schedule and 2014 production is estimated
at between 40,000 and 60,000 ounces. A
full year's production is forecast to aver-
age more than 600,000 ounces of gold. The
deposit remains open at depth.
Hecla Mining Company [HL-NYSE]
gained control of the Casa Berardi Mine, an
underground gold mine located in western
Québec with the acquisition of Aurizon
Mines in 2013. For the seven-month
period under Hecla ownership, the mine
produced 62,532 ounces of gold.
Hinterland Metals Inc. [HMI-TSXV] is
exploring three prospects in Québec. The
company has completed an EM ground sur-
vey 4,209-hectare Guyberry property about
95 km northwest of Val d'Or. In preparation
for an EM ground survey, a 135-km grid
Stornoway building
diamond mine
Stornoway Diamond Corp.
[SWY-TSX] reports construction of
Québec's first diamond mine, the
Renard Diamond Project, has been
under way since July. Located in
the James Bay region, the under-
ground mining project has a capital
cost of $811 million. A recent drill-
ing program determined that the
Renard 2 kimberlite body extends
to at least a depth of 970 metres.
Total indicated resources stands at
27.1 million carats, a number that is
expected to increase in light of this
summer's drilling program.
The first diamondiferous ore
is expected to be delivered to the
plant in the second half of 2016
with commercial production sched-
uled for Q2 2017. Average diamond
production is estimated to be 1.6
million carats per year over the first
11 years of mining at an average
valuation of US $190/carat. About
150 workers are on site. Temporary
construction camps have been built
to accommodate 250 workers.
