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Laurentian Goldfields Ltd. (CA:LGF 0.20, +0.02, +8.33%) ("Laurentian" or the "Company") is pleased to announce that it has commenced field work for a new initiative to generate and acquire gold exploration targets in the Quebec portion of the Abitibi Greenstone Belt.

 

The four week field program will consist of prospecting, rock and soil geochemical sampling and a regionally extensive hydro-geochemical survey focused on areas that the Company believes to be prospective for large, orogenic gold deposits. Laurentian has allocated approximately $225,000 (CDN) to complete this first pass of exploration.

 

"The Abitibi initiative utilizes the innovative geological concepts and cost-effective techniques that to date have been so critical to the success of exploration programs we are currently operating on behalf of partnerships in Ontario," states Andrew Brown, President and CEO. "The Abitibi initiative is 100% by and for Laurentian and we are excited to be giving our shareholders exposure to one of the most prolific gold environments in the world."

 

(Courtesy of Market Watch)

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Alexis Minerals explores spinning off Quebec exploration properties

Tue Oct 5, 12:13 PM

The Canadian Press

 

TORONTO - Alexis Minerals Corp. (TSX: AMC.TO) says its board of directors is reviewing a potential spinoff of its Quebec exploration properties into a new publicly listed company.

 

The transaction would rework the main company to develop it as a mid-tier gold producer focused on the Lac Herbin, Snow Lake and Lac Pelletier gold projects. Targeted gold production would be 150,000 ounces per year.

 

The changes would also give current shareholders of Alexis a stake in the newly formed company, which would own and explore properties in Quebec's Val-d'Or and Rouyn-Noranda mining regions.

 

"Alexis believes that its large gold and base metal exploration properties in Quebec offer significant opportunities for exploration discovery that are severely undervalued in the current corporate structure," the company said in a release.

 

Alexis also noted that the new company would benefit from a favourable tax regime for mineral explorers in the province as well as and the availability of flow-through financing.

 

The company said it would continue to produce gold at its Lac Herbin mine start move towards developing at Snow Lake next year, and eventually its Lac Pelletier project.

 

Alexis shares gained 1.5 cents to 26 cents on the Toronto Stock Exchange at midday.

 

http://ca.news.finance.yahoo.com/s/05102010/2/biz-finance-alexis-minerals-explores-spinning-quebec-exploration-properties.html

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