Val-d’Or Mining Corporation (Val-d’Or Mining) is selling its Luc Bourdon property, consisting of 288 mining claim cells, to Juno Corp. (Juno) in return for 1,500 shares in the Canadian junior exploration company.
Val-d’Or will also receive 1.5pc royalties of net smelter returns from Luc Bourdon, which is located in the James Bay region of northern Ontario, and on the northern limb extension of an area rich in nickel-copper-platinum group elements, chromium, and copper-zinc-silver mineralization.
The property’s high-grade copper, zinc and silver mineralized zone follows a north-south strike about 200 meters in length and has a vertical depth of 275 meters. An area known as the “G6 Zone” has an intersection of 8.70 meters with a grading of 1.40pc for zinc, 0.10 for copper, and 8.7g/t for silver.
Luc Bourdon’s original 501 Discovery, made by Metalex Ventures in 2008, has a 102-meter discovery averaging 6.5pc zinc, 0.44pc copper, and 3g/t silver, including 26 meters with 13.8pc zinc, 0.50pc copper and 2g/t silver.