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September 22, 2006, Vior signed an agreement with Inco Limited
(CVRD) on the Lac-Édouard property by which Inco could
acquire up to 70% of this property by making total cash payments
of $175,000 to Vior and undergoing exploration expenditures
totalling $1 million over the next three years. Exploration
expenditures of $125,000 are forecast before the end of the
third quarter of 2007, Vior being the manager of all exploration
programs.
The Lac-Édouard property, located near the town of La
Tuque, Province of Québec, is host to a small nickel-copper
magmatic-type deposit that was partially mined during 1973 and
1974. This deposit produced about 400 tonnes of nickel
and 200 tonnes of copper from 48,000 tonnes of ore (MRNF: DV-85-08)
The remaining resources (not compliant with National Instrument
43-101) are approximately 34,000 short tonnes grading 1.6 %
Ni and 0.5 % Cu (GM 52057). Mineralization is present
in a series of paralleled sulphide lenses that range from 5
to 25 metres in thickness associated with pyroxenites and gabbros.
There was no advanced geophysical work carried out on the property
in order to identify new conductors. The town of Lac-Édouard
is located 8 kilometres east of the old mine and an electrical
power line borders a paved road to the town, where a CN railroad
station and a rail bypass are found.
This property was the focus of a field exploration program managed
by Vior, during October 2006. The highlights of this exploration
work include the discovery of mineralized mafic to ultramafic
intrusions at a fair distance from the known areas. Outcrops
consisting of gabbros and pyroxenites with disseminated sulphides
(pyrrothite, pentlandite and chalcopyrite) were encountered
4 kilometres to the east-northeast and 3 kilometres west-southwest
of the former Lac-Édouard mine. Moreover, four semi-massive
angular sulphide blocs were discovered near a breccia horizon,
containing mineralized pyroxenite fragments, 500 metres south-southwest
of the former mine. Other breccias were also observed 300 metres
north of the former producer.
Preliminary results of this field work indicate that the mineralized
system is much wider than the previous interpretation suggested.
Geophysics work will be carried out as soon as possible on the
areas of interest.
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