Stelmine to Initiate Exploration Campaign at Courcy Property
TSX VENTURE: STH
QUEBEC, QUEBEC--(Marketwired - June 20, 2017) - Stelmine Canada (« Stelmine ») (TSX VENTURE:STH) 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 as an associate auditor and services consultant (2005-2012). Since then, Mr. Lemieux served as a consultant for various mining companies, in particular for Plexmar Resources Inc., preparing financial statements compatible with the International Financial Reporting Standards (IFRS) and providing consulting services for various SMEs.
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.