- Stelmine Canada (TSXV:STH) begins its largest exploration program to date at its Mercator project in Quebec
- The program is expected to be completed by mid-October
- The first phase will have objectives that will lead to a second stage for drilling
- Shares of Stelmine Canada (V.STH) are down 7.69 per cent to C$0.12 as of 10:07 am ET
Stelmine Canada (V.STH) has begun its largest exploration program to date at its Mercator property in Quebec.
The company said the program is already underway and is expected to finish by mid-October.
The program has several objectives in mind that will lead to a second stage that will focus mostly on drilling.
Phase 1 of the program will include:
- a definition-induced polarity (IP) resistivity survey on the gold-bearing Meridian Zone
- systematic and detailed geological and structural mapping of the Meridian Zone
- intense exploration and grab rock/channel sampling
The company said it will also conduct high-resolution soil surveys once a successful till survey campaign has identified new gold targets outside of the Meridian Zone.
Stelmine will also focus on identifying the lithium potential of granitic pegmatites and granites.
With headquarters in Quebec City, Stelmine Canada is a junior mining company focused on the Caniapiscau gold district east of James Bay.
The company has 100 per cent ownership of the metasedimentary basin in addition to 100 per cent ownership of 1,782 claims.
Shares of Stelmine Canada (V.STH) are down 7.69 per cent to C$0.12 as of 10:07 am ET.
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