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Standard Graphite (TSXV:SGH) has announced that it has signed a Mineral Property Option Agreement with SOQUEM pursuant to which Standard has been granted an option to earn 50 percent interest in the Philibert Gold Project in Quebec. As quoted in the press release: Chris Bogart, President and CEO states, “The Philibert Property represents a significant …
Standard Graphite (TSXV:SGH) has announced that it has signed a Mineral Property Option Agreement with SOQUEM pursuant to which Standard has been granted an option to earn 50 percent interest in the Philibert Gold Project in Quebec.
As quoted in the press release:
Chris Bogart, President and CEO states, “The Philibert Property represents a significant milestone in our strategy to build shareholder value through targeted accretive acquisitions to our gold portfolio. The addition of a gold project at this stage of development, in a known mining district with extensive previous exploration, compliments our earlier acquisition of the Diego Gold project also in Quebec. The selection of the Philibert Property was based on numerous factors, including a historic gold estimate*, high exploration potential and proximity to the former producing Joe Mann mine**. We are especially pleased to have SOQUEM as a partner to develop this gold asset in Quebec. SOQUEM is a significant contributor to the mining sector in Quebec and have a substantial track record of mineral discovery, development and financing of Quebec mineral properties through Ressources Quebec and Investissement Quebec. They are an ideal partner for Standard as we develop our presence in Quebec.”
The Philibert Property comprises 110 mining titles covering 5,392.57 hectares free of all encumbrance, restrictions, claims, environmental liabilities and royalties. The Philibert Property is located in the Chibougamau Mining Camp, 50km southwest of the town, road accessible, within 10km of power grid and of a non-operating mill.