- Stelmine (STH) has completed Phase 1 drilling at its Courcy Project in northern Quebec
- A total of 14 drill holes comprising 2,237 metres were completed in Phase 1
- Three of the holes intersected visible gold
- The company will receive assay results by the end of May or early June
- Planning for phase 2 follow-up drilling will begin once all the assay results have been received and reviewed
- Stelmine is a junior mining exploration company with 100 per cent ownership of 1,277 claims in northern Quebec
- Stelmine Canada Ltd. (STH) is up 36.67 per cent on the day, trading at C$0.205 per share at 1:45 pm ET
Stelmine (STH) has completed Phase 1 drilling at its Courcy Project in northern Quebec.
A total of 14 drill holes comprising 2,237 metres were completed in Phase 1. Three of the holes intersected visible gold.
Ms. Isabelle Proulx, Stelmine CEO, commented on the program.
“Our initial drilling at Courcy leaves us very excited about the potential to identify a substantial high-grade system at Courcy. Our understanding of this structurally complex environment has evolved tremendously in recent months and we see strong potential for the stacking of veins in addition to parallel layers of massive sulphide. We eagerly anticipate the release of assay results from Phase 1 by the end of May/early June. We’re in a healthy cash position, ready to commence a new field season shortly.”
Planning for phase 2 follow-up drilling will begin once all the drill core assay results have been received, reviewed and interpreted.
Stelmine geologists are preparing a comprehensive exploration program for the highly prospective Mercator Project, approximately 100 km northwest of Courcy. Channel sampling outlined mineralization over an extensive area. This program will lead to the initial drilling of the prospect.
Stelmine is a junior mining exploration company with 100 per cent ownership of 1,277 claims or 655 sq. km in northern Quebec, highlighted by the Courcy and Mercator projects.
Stelmine Canada Ltd. (STH) is up 36.67 per cent on the day, trading at C$0.205 per share at 1:45 pm ET.