Emperor Metals Acquires Lac Pelletier Property near Rouyn-Noranda with Historical Gold Resource
By Kevin Vincent
Emperor Metals Inc. has announced the acquisition of the Lac Pelletier Property, a prospective gold project located near Rouyn-Noranda, Quebec. Under the property purchase agreement with Maritime Resources Corp., Emperor will issue 12.5 million common shares, representing approximately 10.06% of its current outstanding shares, as consideration for the property.
The Lac Pelletier Property spans 558 hectares across 25 mining claims and a mining lease, adjacent to Agnico Eagle’s Wasamac Gold Deposit. “This acquisition positions Emperor Metals to unlock significant value at Lac Pelletier, leveraging its proximity to established infrastructure and high-grade historical resources,” said John Florek, President and CEO of Emperor Metals.
Key Acquisition Highlights
• Historical Resource Estimate: Measured and Indicated mineral resources of 681,200 tonnes at 4.08 g/t Au (89,400 oz) and Inferred mineral resources of 1,099,000 tonnes at 3.89 g/t Au (137,600 oz).
• Infrastructure in Place: 105,000 metres of drilling, 3.3 kilometres of underground development, a portal, and a vent raise.
• Exploration Potential: High-grade drill intercepts include 22.4 metres at 7.6 g/t Au and 6.2 metres at 24.8 g/t Au.
• Proven Metallurgy: Bulk samples (2009-2010) showed an average recovery of 96.3%, with 2,950 oz of gold recovered at 4.35 g/t Au.
The property, located within the municipal limits of Rouyn-Noranda, benefits from established infrastructure, including easy access to nearby facilities. With prior expenditures on site exceeding $70 million, Lac Pelletier offers both resource expansion potential and pre-production scenarios for Emperor Metals.
Strategic Potential
Florek highlighted the project’s strategic significance: “The Lac Pelletier Property not only strengthens our portfolio but provides a clear path to resource expansion and potential near-term production. With Maritime joining us as a significant shareholder, we look forward to driving value for both companies.”
The transaction is expected to close by March 31, 2025, subject to customary conditions, including Canadian Securities Exchange approval.
About Emperor Metals Inc.
Emperor Metals Inc. is a Canadian mineral exploration company focused on projects within Canada, including the Pine Grove and other gold properties in the Hemlo region of Ontario. The company is committed to advancing exploration in prolific gold belts and unlocking new opportunities for growth.
Tags: Quebec / Deals & Financial / Gold / All Articles