Stelmine Pursue its Acquisitions
2017
Québec, February 08, 2017– Stelmine Canada Ltd. (« Stelmine ») (STH-TSXV) announced its acquisition of the Vallard property, located 100 km SW of the town of Fermont (Québec) less than 20 km NE from its flagship Courcy property. The property consists of a group of 125 continuous claims, 100% owned by Stelmine and totalling 65.2 km2.
The Vallard property encompasses a major thrust, the Vallard fault, marking the contact between highly metamorphosed intermediate volcanic rocks (Courcy Group) within the Opatica subprovince and migmatitic paragneiss sequences (Mercator Formation) of the Opinaca sedimentary basin. The geology of this property manifests characteristics comparable to those associated with gold mineralization occurring at the periphery of the western Opinaca sedimentary basin and the La Grande subprovince (e.g. Éléonore, Zone 25, La Grande-South):
1) major km-long faulting at the periphery and/or contact of the Opinaca metasedimentary subprovince;
2) a highly metamorphosed assemblage of sedimentary rocks and;
3) the occurrence of nearby volcanic formations.
Over the coming months, Stelmine will proceed with an exploration program. A map is available on www.stelmine.com.
“Stelmine is pursuing its acquisition program to gain a major foothold in the next Québec mining camp”stated Isabelle Proulx, President.
Further information on amendments to the Company’s Stock Option Plan : On January 27, 2017, the Company announced that its shareholders had approved the changes proposed to the Stock Option Plan (“Plan”) at the shareholders meetings held that day. The Company wishes to point out that the main amendment to the plan was the move from a fixed-number stock option plan to a variable-number stock option plan, for which, for issuing purposes when a stock option is exercised, a number of shares corresponding to 10% of the shares issued by the Company when all options are allocated is reserved. Other changes made to update various aspects of the Plan are described in the Company’s most recent proxy circular, available for consultation on SEDAR at www.sedar.com.
The technical content of this release was approved by Michel Boily, PhD, Geo, a Qualified Person as defined by National Instrument 43-101.
About Stelmine
Stelmine is a restructuring junior Québec mining exploration company operating in Québec. Its capital stock consists of 18,353,884 issued and outstanding shares for a current market capitalization of $5 million.
Forward-looking statements
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Stelmine and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications or statements made by Stelmine. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For more information :
Isabelle Proulx
President and CEO
581-998-1222
info@stelmine.com
Stelmine.com
Christian Guilbaud
Director
514-813-7862
Releases
- Stelmine announces the results of its annual meeting of Shareholders and the grant of stock options
- Stelmine prepares a 3000 m Exploration Drilling Program at Courcy in the Caniapiscau Mining District.
- Caniapiscau (Kaneiapishkau) : a new gold district in Quebec developed by Stelmine
- Stelmine appoints Julie Lemieux on its Board of Directors
- Stelmine completes a strategic private placement of $600,050 with a lead order from Palisades Goldcorp Ltd.
- New on Stelmine’s Board of Directors
- Stelmine completes exploration work on its Trieste property
- Stelmine initiates a new exploration campaign on its Joubert gold property
- Stelmine to resume exploration of the Mercator gold property
- Stelmine to launch its exploration campaign