GOLD  $US/OZ $ NYSE:OR  $ TSX:OR    $      

Coulon (base metals)

 

  • Metals: Zinc (Zn), Copper (Cu), Silver (Ag)
  • Operator: Osisko
  • Location: Québec, Canada
  • Status: Exploration

Details:

  • 15 km north of Fontanges Airport in the Middle North of Quebec. Proximity of a hydroelectric dam. Access year-round via the Trans-Taïga road.
  • Surface area of 247,67 km2
  • Located within an unexplored Archean volcanic belt with typical geological characteristics of belts that are fertile in volcanogenic massive sulphide deposits.
  • The discovery of polymetallic mineralization on the Coulon project confirms James Bay area’s mining potential for massive sulphide-type mineralization as well as attests that this is a new mining camp in Quebec.
  • An agreement was signed in January 2014 with three Quebec institutional partners, namely SODÉMEX Development (a subsidiary of the Caisse de dépôt and placement du Québec), the Fonds de solidarité du Québec (FTQ) jointly with the Nord-du-Québec Regional Fund, and SIDEX Limited Partnership. These partners have joined Virginia in financing a $28 million accelerated program to fund the Coulon project over the next four years.Virginia Mines first transferred all of its interest in the Coulon project to a newly incorporated subsidiary under the name Coulon Mines Inc. In return, Virginia Mines received common shares of Coulon Mines worth 42 million dollars.

Resource:

  • Indicated resource1: 3,675,000 tonnes
    • Average grade: 3.61 % Zn, 1.27 % Cu, 0.40 % Pb, 37.2 g/t Ag et 0.25 g/t Au
  • Inferred resource1: 10,058,000 tonnes
    • Average grade: 3.92 % Zn, 1.33 % Cu, 0.19 % Pb, 34.5 g/t Ag et 0.18 g/t Au

Results: