Pasofino earns 50% interest in Roger Gold Copper Project in Abitibi Greenstone Belt

Pasofino Gold Limited has completed all conditions to earn its 50% ownership interest in the advanced-stage Roger gold-copper project in the prolific Abitibi Greenstone Belt in Quebec from project operator SOQUEM, a subsidiary of Investissement Québec.

The project is advantageously located 5 km north of the historic mining center Chibougamau, Quebec, has an all-season road access and is crossed by a power line that serviced the past-producing Troilus Mine.

Ian Stalker, President and CEO of Pasofino, commented: "The Roger gold-copper project is an advanced-stage asset in the desirable mining jurisdiction of Quebec. Completing the earn-in for the 50% ownership of this project provides us with an excellent position to evaluate options for this asset."

Subsequent contributions to the Property will determine the interest of each party moving forward. If both parties agree to spend their relative proportion, the unincorporated Joint Venture will continue on a 50-50 basis.

About SOQUEM

SOQUEM, a subsidiary of Investissement Québec, has a mission to encourage the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well positioned for the future.

About Pasofino Gold Ltd.

Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSX-V (VEIN), OTCQB (EFRGF), and FSE (N07). Through its wholly-owned subsidiary, ARX Resources Limited, Pasofino has an option to earn a 49% economic interest (prior to the issuance of the Government of Liberia's 10% carried interest) in the Project, once defined feasibility studies and exploration programs have been met.

Pasofino also owns a 50% stake in the advanced-stage Roger Gold-Copper Project located in Quebec's prolific Abitibi Greenstone Belt.

Tags: Quebec / Investment / Gold / All Articles