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Malartic Gold Property, Quebec, Canada

DPM has entered into a Joint Venture with Khalkos Exploration Inc. to earn up to a 71% interest in their Malartic gold property located in the Archean Abitibi greenstone belt in the Malartic mining camp in Quebec.

The Malartic property consists of 91 contiguous claims covering 35 km2 of prospective Abitibi geology. The full length of the property is transected by several regional shear zones, including the Parfouru and La Pause faults, which run sub parallel to the prolific Cadillac Larder Lake fault zone. Within the property several quartz carbonate vein gold occurrences are hosted by these regional shear zones and related fracture systems. In addition, the presence of upper felsic volcanic stratigraphy of the Blake River Group on the property indicates the potential for gold-rich VMS lenses and related sulphide stockworks similar to deposits in the Doyon-Bousquet-LaRonde gold camp located 10 to 15 km west of the property.

Over the past 70 years only a few parts of the property were systematically explored and drill tested due to the numerous claims and smaller claim blocks held by different owners. The successful consolidation of these claims by Khalkos allows for a systematic exploration approach that will integrate geology with new geochemical and geophysical datasets to develop drill targets on a wider scale.

Under the terms of the agreement, DPM can earn an initial 51% interest in Malartic in exchange for expenditures on the property aggregating C$2.5M within three years of the effective date of the agreement. Following that, DPM will have a further option to increase its interest to 71% by incurring an additional C$3.5M in expenditures on the property within three years.

During the option period, DPM will be the operator of the project.

Stock Quote: TSE

Price 8.90

Change -0.67

Volume 1,624,034

% Change -7%

Intraday High 9.25

52 Week High 10.73

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52 Week Low 3.20

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Previous Close 9.57

08/11/2020 04:18 PM ET Pricing delayed 20 minutes
: 1,927.18 ?+14.93


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