Stelmine to initiate exploration campaign
Quebec, June 20 2107-Stelmine Canada (« Stelmine ») (STH-TSXV) is pleased to announce the start of its exploration campaign on the Courcy flagship mining property located 100 km west of the town of Fermont, Labrador, Quebec. A base camp with a capacity of 16 persons is currently built to receive our exploration team and a drilling crew.
Stelmine’s field-based team consists of geologists and technicians who will perform geological and structural mapping, rock and soil sampling and overburden stripping of gold-rich showings unearthed by SOQUEM from 2002-2006. Uninvestigated EM and Mag anomalies identified from previous airborne surveys will be explored to identify new mineralized sites. The western area of the property reveals several geophysical anomalies with a high potential of gold discovery. Results of this exploration will help Stelmine localize drill hole collars for its upcoming drilling campaign planned for this year.
The Courcy site will serve as a base camp in the prospection of the recently acquired Vallard, Joubert, Mercator and Trieste grassroot properties located to the north and northwest of Courcy. These properties will be covered by heliborne Mag surveys to identify new mineralized targets that will be mapped and sampled during fly camps.
Commenting the recent mobilization to the Courcy site, Isabelle Proulx, president and CEO of Stelmine affirms: “Stelmine maintains its aggressive exploration strategy in the eastern Opinaca basin with the build-up of a base camp on the Courcy property. During the forthcoming 4 or 5 months, the company will probe in depth the gold potential of its properties using geophysics, geological mapping, rock and soil sampling and ultimately a drilling campaign”.
Nomination of a Chief Financial Officer (CFO)
Stelmine is pleased to announce the nomination of Mr. Paul-André Lemieux CPA, CA to the CFO position. Mr. Lemieux worked for PricewaterhouseCoopers in their Paris, Vancouver and Québec offices, to the partner level (2005-2012), as an auditor and in consulting services in Quebec City. Since 2012, Mr. Lemieux has acted as a consultant to mining companies, in particular to Plexmar Resources Inc. in the preparation of financial statements based on International Financial Reporting Standards (IFRS) and on behalf of various SMEs for services advice.
The technical content of this release was prepared and approved by Michel Boily, PhD, geo; a Qualified Person (QP) as defined by National Instrument 43-101.
Stelmine is a junior mining exploration company and its activities are located in the Province of Québec. Stelmine holds 754 claims spanning 383 km2 on the eastern part of the Opinaca metasedimentary basin, which contains zones with a high potential for gold deposit discovery in geological contexts similar to the one leading to discovery of the Éléonore Mine. Its capital stock consists of 21,926,452 issued and outstanding shares for a current market capitalization of $5.9 million.
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.
For more information :
President and CEO
- 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