- Val-d’Or Mining Corporation (VZZ) has provided an update on the property transaction with Québec Nickel Corp. (QNI)
- Val-d’Or Mining sold the Ducros Group of Properties to QNI in exchange for 3,508,461 common shares in the capital of QNI
- QNI plans a $375,000 exploration program on the properties
- Val-d’Or Mining Corporation is a junior natural resource company
- Val-d’Or Mining Corporation (VZZ) is unchanged, trading at C$0.115 at 11:30 am ET
Val-d’Or Mining Corporation (VZZ) has provided an update on the property transaction with Québec Nickel Corp (QNI).
As part of this transaction, Val-d’Or Mining sold the Ducros Group of Properties to QNI in exchange for 3,508,461 common shares in the capital of QNI and retained a 1.5 per cent NSR on 239 mineral claims covering a total area of 12,835 hectares.
Québec Nickel announced that it received final approval to list its common shares on the Canadian Securities Exchange. Trading commenced at the opening of the market on July 2, 2021.
QNI exploration update
QNI plans a first phase, $375,000 program, which is expected to include:
- A property-wide heliborne magnetic-electromagnetic survey,
- Data compilation and 3D geological modelling,
- Property-scale mapping, prospecting and sampling,
- Mechanical outcrop stripping, mapping and sampling programs, and
- Preparation of a first drill program.
Val-d’Or Mining Corporation will obtain a two-fold benefit from Québec Nickel’s exploration efforts as a result of its share ownership and from the NSR.
Québec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing nickel projects in Quebec, Canada.
Val-d’Or Mining Corporation is a junior natural resource company focused on the acquisition and exploration of its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Quebec.
Val-d’Or Mining Corporation (VZZ) is unchanged, trading at C$0.115 at 11:30 am ET.