A large number of junior companies, most of them Quebec-based, have tied up ground in the Lac Volant area, which was recently reopened by the Quebec government for staking.
The area was withdrawn from staking in late August after a provincial government geological crew found a nickel-copper showing at the southern end of Lac Volant, about 75 km northeast of Sept-Iles. The staking ban was lifted on Oct. 9 and an immediate staking rush followed (T.N.M., Oct. 14/96).
GeoNova Explorations (GNE-M) staked 117 claims in the area, covering nine known surface showings. The company, which describes itself as “extremely satisfied” with the land package it was able to stake, also says it has located other showings on the property.
A surface grab sample taken by a GeoNova staker returned values of 0.73% copper, 0.66% nickel and 0.11% cobalt.
Sirios Resources (SOI-M) has staked four claim blocks with a total area of 33 sq. km, northeast of the Lac Volant showing. The company has concentrated its staking effort along contacts between anorthosite and gabbro, similar to the occurrence at Lac Volant.
Altavista Mines (AIA-M) also announced it had staked claims in the withdrawn area.
About 1.5 km outside the area opened for staking, Golden Tag Resources (GOG-V) acquired a block of 32 claims covering a nickel-copper showing on the western margin of the Manitou Lake anorthosite-gabbro complex. One surface showing yielded a grab sample grading 2.3% copper, 2% nickel and 0.12% cobalt. At a second showing, one grab sample graded 5.9% copper and 1.4% nickel, and another contained 1.5% copper and 2.2% nickel.
Diadem Resources (DIR-M) has consolidated a 10-sq.-km area around its Pekan River and Sarah Lake projects.
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