- Quebec Silica Resources (QTZ) has acquired additional mineral claims in Quebec
- The company entered into an agreement to acquire a 100 per cent interest in additional mineral claims
- The claims are located near its Charlevoix Silica Property in the Lac-Pikauba Municipality of Quebec
- The newly acquired Roche Blanche Property consists of seven contiguous mining claims covering a total area of 404.81 hectares
- Quebec Silica is up 13.35 per cent on the day, with shares of the company trading at $0.085 at 11:44 am ET
Quebec Silica Resources (QTZ) has acquired additional mineral claims in Quebec.
The company entered into an agreement to acquire a 100 per cent interest in additional mineral claims located near its Charlevoix Silica Property in the Lac-Pikauba Municipality of Quebec.
The newly acquired Roche Blanche Property consists of seven contiguous mining claims covering a total area of 404.81 hectares. The property is approximately 1.3 kilometres along a geological strike from the company’s Charlevoix property.
The high-grade silica formation, known as the Quartzite du Petit lac Malbaie, is actively mined by neighbouring operators and is mapped to extend though the Charlevoix property and through the new Roche Blanche Property.
“The Quebec Silica team is pleased to continue expanding our land position, and look forward to an aggressive exploration season on our assets this year. This acquisition is another step towards achieving our goal of supplying high grade silica for use in advanced battery technology,” said Quebec Silica CEO Raymond Wladichuk.
Under the agreement, Quebec Silica will acquire its 100 per cent interest in the Roche Blanche Property by issuing an aggregate of 4,000,000 common shares, at a deemed issued price of C$0.10.
Certain sellers will retain a 2.0 per cent Net Smelter Royalty (NSR) from any future production.
Quebec Silica has the right to reduce the 2.0 per cent NSR to a 1.0 per cent NSR by paying $1,000,000.
Quebec Silica is a mineral exploration company focused on the acquisition and exploration of mineral resource properties with an emphasis on the Charlevoix Silica Property located near Clermont, Quebec.
Quebec Silica is up 13.35 per cent on the day, with shares of the company trading at $0.085 at 11:44 am ET.
