Toronto- and New York-listed Iamgold has bought four mining claims, formerly part of the Opawica property in the Chibougamau mining camp of Quebec, from explorer and developer Mosaic Minerals.
According to Mosaic, Iamgold acquired the claims for a total of C$150 000. Mosaic retained a 0.5% net smelter royalty.
“We are happy to conclude this transaction with Iamgold, a great partner for the development of mining properties in Quebec,” said Mosaic president and CEO Jonathan Hamel.
He stated that Mosaic would now devote all its attention to the Gadoury project and the 113 N properties, which would have potential for battery metals, particularly nickel.
Mosaic has obtained all the necessary permits to undertake a first drilling programme on its Gaboury project, about 150 km south-west of Rouyn-Noranda, in Abitibi.
The company noted that it would start the drilling campaign as soon as possible.