September 07, 2008

Lounor Exploration buys nickel claims in Quebec

It is reported that Lounor Exploration Inc has bought nine mineral claims in the Rouyn Noranda mining distinct in Quebec by issuing 100,000 common shares for a 100 per interest or about USD 19,000.

Lounor, which has mineral holdings in Ontario and Quebec said that the new property is near a large low grade nickel deposit that was once owned by Dumont Nickel Corporation and now by Royal Nickel Inc. Royal Nickel is currently conducting a 10,000 meter drilling program on the property.

Lounor in a statement said that it plans to start a two phase exploration program next week. The first phase will determine the location of the structural targets and the second phase will consist of diamond drilling the identified target or targets.