Stelmine Canada Ltd.
TSX VENTURE : STH

Stelmine Canada Ltd.

December 16, 2015 09:30 ET

Stelmine to Acquire Property South of Tomagold/Iamgold (Monster Lake) Project and Confirm Others Acquisitions

MONTREAL, QUEBEC--(Marketwired - Dec. 16, 2015) - Stelmine Canada Ltd ("Stelmine"), (TSX VENTURE:STH) announces that it has signed an agreement where the company has the option to acquire 100% interest in 24 claims covering 1342 hectares in the monster lake project area. The company may acquire 49% by executing an exploration work of 35,000.00$ within 4 months and an additional 51% interest by issuing 400,000 share of its capital within 6 months and granting a 3% NSR on the Property to the vendors.

This acquisition will become an important asset for the company by its geographic location surrounded by Vanstar/Iamgold south/west of property with the Nelligan project where results has indicated 1.64 g/t Au on 37.60 M and 6.00 g/t Au on 9 M and Tomagold/Iamgold Monster Lake project adjacent north where drilling results as indicated 237.60 g/t Au on 5.70 M, 101.20 g/t Au on 4.50 M, 42.00 g/t Au on 7.20 M and 46.30 g/t Au on 9.18 M including 182.8 g/t Au on 2.20 M.

In addition Stelmine announce that it has re-negotiate and entered into an agreement to acquire a 100% interest in the Opinaca South mining property announced on April 09, 2015, located in the James Bay area. The Property consists of 20 mining claims that cover 1,064 hectares in the district of James Bay in the Opinaca area. The property is located 15 km south of the Roberto deposit owned by Goldcorp Corporation and is surrounded by the Eleonore Régional properties. Stelmine acquired 100 interests for the cost of claims by making a cash payment of $2,540.00 to vendor and granting a 1% NSR on the Property to the vendor.

Stelmine also announces that it has re-negotiated and entered into an agreement to acquired 100% interest in the Barraute Property comprising 12 mining claims that cover 492.75 ha. The property is located close north to Quebec Lithium Mine where proven and probable reserves have been announced at 17.1 Mt @ 0.94% Li2O. Stelmine acquired 100 interests for the cost claims by making a cash payment of $630.25 to vendor and granting a 1% NSR on the Property to the vendor.

Stelmine also announces that it has re-negotiated and entered into an agreement to acquired 100% interest in the West Maniwaki property comprising 10 mining claims that covers 592.65 Ha. The property is located at 15 Km North West of Maniwaki, 130 Km north of Gatineau. Stelmine acquired 100 interests for the cost of claims by making a cash payment of $547.50 to vendor and granting a 1% NSR on the Property to the vendor.

Stelmine Canada Ltd is a junior exploration company registered on the TSX Ventures under the symbol STH.

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Contact Information

  • Michel Lemay
    President and CEO
    (514) 715-7387