Bousquet Property (Preissac)
Canada /
Quebec /
Malartic /
Preissac
World
/ Canada
/ Quebec
/ Malartic
mine, gold mine
The Bousquet property is located immediately west of the LaRonde Mine and consists of two mining leases covering 80.0 hectares and 31 claims covering 384.9 hectares. The property, along with various equipment and other mining properties, was acquired from Barrick in September 2003 for $3.9 million in cash, $1.5 million in common shares of the Company and the assumption of specific reclamation and other obligations related to the Bousquet property. The property is subject to a 2% net smelter return royalty interest in favour of Barrick.
From 2004 to 2007, the Company recovered 108,407 tonnes of ore grading 2.33 grams of gold per tonne from Zone 4 in a small open pit. In 2006 and 2007, the Company recovered 99,342 tonnes of ore grading 7.02 grams of gold per tonne from two small ore blocks underground at Bousquet. There has been no mining of this property since 2007.
In 2010, the Company completed the first stage of a diamond drilling program consisting primarily of twinning and resampling historic holes to evaluate the production potential of an open pit at Bousquet Zone 5. This work led to an initial resource estimate for Zone 5. For the whole Bousquet property, including Zone 5, the December 31, 2010 indicated mineral resource is approximately 1.7 million tonnes grading 5.63 grams of gold per tonne. The inferred mineral resource is 20.5 million tonnes grading 2.32 grams of gold per tonne. Expenditures on exploration in 2010 were $0.2 million, which includes the cost of drilling 2,082 metres in seven holes. In 2011, the Company expects to spend $1.9 million on drilling 20,000 metres at Bousquet.
From 2004 to 2007, the Company recovered 108,407 tonnes of ore grading 2.33 grams of gold per tonne from Zone 4 in a small open pit. In 2006 and 2007, the Company recovered 99,342 tonnes of ore grading 7.02 grams of gold per tonne from two small ore blocks underground at Bousquet. There has been no mining of this property since 2007.
In 2010, the Company completed the first stage of a diamond drilling program consisting primarily of twinning and resampling historic holes to evaluate the production potential of an open pit at Bousquet Zone 5. This work led to an initial resource estimate for Zone 5. For the whole Bousquet property, including Zone 5, the December 31, 2010 indicated mineral resource is approximately 1.7 million tonnes grading 5.63 grams of gold per tonne. The inferred mineral resource is 20.5 million tonnes grading 2.32 grams of gold per tonne. Expenditures on exploration in 2010 were $0.2 million, which includes the cost of drilling 2,082 metres in seven holes. In 2011, the Company expects to spend $1.9 million on drilling 20,000 metres at Bousquet.
Nearby cities:
Coordinates: 48°15'24"N 78°28'15"W
- Doyon-Mouska-Westwood Mine Property 9 km
- Lapa Mine Property 14 km
- Canadian Malartic Property 19 km
- Canadian Malartic Open Pit - 2014 21 km
- Malartic 26 km
- Val-d’Or 50 km
- Quebec Lithium Mine Property 51 km
- Sigma Lamaque Property 53 km
- Lac Herbin Property 53 km
- Jamesville Rock Quarry 613 km
- Tailings Management Facility 3.9 km
- Waste Rock Dump 4 km
- Waste Rock Dump 4.7 km
- Lac Chassignolle 5.1 km
- South Basin Tailing Pond - Phase4B (Pond 3 East) 5.7 km
- North Basin Tailing Pond - Phase 2 (Pond 2) 6.1 km
- South Basin Tailing Pond - Phase4B (Pond 3 West) 6.1 km
- North Basin Tailing Pond - Phase 1 (Pond 1) 6.6 km
- Lac Moléon 14 km
- Lac Edme 15 km