- Stelmine Canada (STH) announce the company has discovered a potentially large gold system at its Mercator Property
- The property spans 389 square kilometres in Quebec’s Caniapiscau gold district east of James Bay
- Mercator displays characteristics of a large-scale gold system with mineralization discovered in sediments and gabbros at surface
- The Phase 1 summer 2021 exploration program includes geophysics and extensive sampling in preparation for potential maiden drilling during the second half of the year
- Stelmine Canada is up 12.5 per cent, trading at $0.18 at 12:01 pm ET
Stelmine Canada (STH) announce the company has discovered a potentially large gold system at its Mercator Property.
The property spans 389 square kilometres in Quebec’s Caniapiscau gold district east of James Bay and the Eleonore mine.
The now-in-progress Phase 1 summer 2021 exploration program includes geophysics and extensive sampling in preparation for potential maiden drilling during the second half of the year.
Mercator is one of several district-scale claim blocks comprising 815 square kilometres, owned 100-per-cent by the company, in the under-explored Opinaca metasedimentary basin including the Courcy Property.
Mercator displays characteristics of a large-scale gold system with mineralization discovered in sediments and gabbros at surface along a 1.9-kilometre trend of faulted and folded iron formations.
“Our geological team is excited by the scale of Mercator and the potential for strong grades, as demonstrated by first-ever systematic sampling of this area in addition to historic drill results to the east at Courcy. Field crews continue their work and interpretations are ongoing. We look forward to updating investors again shortly,” said Stelmine CEO Isabelle Proulx.
Stelmine Canada is up 12.5 per cent, trading at $0.18 at 12:01 pm ET.