Quebec unveils mining initiatives

With low metal prices putting a damper on exploration in the Abitibi greenstone belt, the Quebec government and the private sector are each taking steps to encourage mineral exploration in the province.

During the 24th annual general meeting of the Quebec Prospectors Association (APQ), held here recently, Quebec Mines Minister Denise Carrier-Perreault announced three new provincial measures:

* changes to the minimum replacement tax allowing the purchase of up to three times more accreditive shares under a modified tax shelter; * expenditures of $5.5 million over three years on a new program designed to stimulate deep exploration in the Abitibi camp; and

* a contribution of $200,000 to the APQ’s new Explor-Action Fund, which was set up to promote mineral exploration in Quebec.

Explor-Action’s immediate objective is to raise $2 million over five years, with industry and government each contributing half. As of mid-September, some $560,000 had been raised, with Cambior, Virginia Gold Mines and Soquem being among the largest contributors.

Access to territory is one issue to be addressed by the fund, which is co-chaired by Cambior President Louis Gignac and Virginia Gold Mines President Andre Gaumond.

Commented Gignac: “The pipeline for new mines is pretty much empty in Quebec. This fund will help give a new appetite for exploration and create a new climate in the province.”

Among the award-winners at this year’s convention were:

* Cancor Mines, which was named Prospector of the Year;

* Agnico-Eagle Mines (Laronde division), which won for Developer of the Year; and

* Rouyn-Noranda-based prospector Ernest Paquin, who received the Nicholas Denys medal for lifetime achievement.

Given that much of the past year’s activity in Quebec occurred in known camps, the convention focused attention on projects operated by established players, including: McWatters Mines’ work at the Lamaque and Sigma mines in Val d’Or and at East Amphi in the Malartic region; Globex Mining Enterprises and Amblin Resources’ drill campaign at the Lyndhurst property, north of Rouyn-Noranda; and Aurizon Mines’ proposed drill program at its newly acquired Casa Berardi mine.

Delegates were told that the Natural Resources Ministry’s Far North Program will soon be releasing a major geochemical survey, including 26,000 lake-bottom sediment samples.

Also, Allican outlined its $80-million plan to build North America’s only ferrochrome plant. The location will be the Thetford Mines area, where reserves from several deposits have been pegged at more than 7.4 million tonnes grading 6.6% chromite.

While the excitement in the Lac Volant area has almost completely dissipated since the staking rush two summers ago, some juniors are still searching for nickel in the North Shore region, including year-old Matamec Explorations.

Delegates also were updated as to exploration efforts in the Appalachian, James Bay, Matagami, Urban-Barry and Chibougamau regions, and attention was paid to Quebec’s oil-and-gas potential in the Anticosti and Gulf of St-Lawrence basins.

The meeting took on an exotic air with the hosting of a delegation from Guinea, West Africa.