Orefinders Resources Inc. has announced that it has entered into an option agreement, subject to approval by the Toronto Venture Exchange, to acquire a 100% interest in the Grizzly Gold project in the Chibougamau District of Quebec. The Grizzly property is comprised of 105 contiguous mining claims and is located 60 km west of the town of Chapais, and is proximate to all major infrastructure from Chibougamau's mining camp including road, rail, hydropower lines and a skilled local workforce.
Orefinders is permitting for its 18 holes, 3000 m Phase One drill campaign on Grizzly, and the company expects to complete this drill program by the end of this year.
Stephen Stewart, Orefinders Chairman, said:
“Our group is very interested in exploring near-surface gold and copper deposits in the Chibougamau District of Quebec. This acquisition represents an investment in another known mineralised structure that is near surface and mostly untested. Furthermore, the area has top-tier infrastructure yet is still an emerging district in the context of near surface operations based on new interpretations our group has developed."