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WEMINDJI - SANTOY
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Key Facts
Location:
Quebec, Canada
0 km of WEMINDJI AREA Commodities: Diamond
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Comparable Properties
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Latest Information  July 22, 2002 Osisko Exploration has agreed to sell, on a private placement basis, a maximum of 1.3 million flow-through common shares at 12 cents per share, for maximum total proceeds of CAD156,000. A maximum of 10 Quebec-based private investors will participate in the issue. Company shares currently trade at 8 cents, with 9.8 million shares currently issued and outstanding. Osisko plans to use the funds generated by the financing on the Otish/Wemindji diamond exploration projects, as well as on grassroots programs aimed at developing gold and high-tech metal projects. January 17, 2002 Osisko Exploration has acquired several properties in the greater James Bay region of Quebec, including the Otish and Wemindji areas. Three blocks covering a total of 10,882 ha in the immediate Otish area, were map-staked and are awaiting Quebec government approval. A fourth claim block covering 5,190 ha has been acquired in the Wemindji area, immediately south of Majescor's property from an independent geologist. A series of 13 claim blocks covering a total of 1,670 ha have also been acquired within the Wemindji-La Grande area in joint venture with Troymin Resources. Finally, an additional eight claim blocks covering a total of 4,385 ha have been acquired by Osisko in the Mistassini area. Osisko plans to continue structural and magnetic compilations of the James Bay area over the winter period with the objective of acquiring additional properties. |
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