Canadian private equity firm Zimtu Capital Corp. and a local prospector acquired through 50/50 staking a mineral property in Quebec's James Bay Region.
The Lac Elmer East property spans 18.4 square kilometers and is 8 kilometers east of the easternmost extent of Azimut Exploration Inc.'s recent discovery at their Elmer Gold property, according to a release.
Comprising 35 mineral claims, the plot lies on an area of high magnetic susceptibility and is underlain by various Archean rocks. Zimtu Capital staked the mineral claims Jan. 15.
Zimtu Capital focuses on the mineral exploration sector.