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Chibougamau Independent completes purchase of Mont Sorcier property

Chibougamau Independent Mines Inc. said Sept. 22 that it has gained a 100% interest in the Mont Sorcier iron-titanium-vanadium deposit in Quebec after acquiring 12 claims.

The now 57-claim Mont Sorcier property comprises the North and South zones, which have undergone several stages of drilling and metallurgical testing. Both zones are open to depth.

Following the acquisition, Globex Mining Enterprises Inc. and Chibougamau have agreed that the former's 3% gross metal royalty on the original Mont Sorcier claim group will be reduced to 1%, but will now apply to the expanded claim package.