New funds will help build ‘road-to-riches’highway

Quebec’s 2009-2010 budget includes $698 million for road infrastructure projects in the northern part of the province, one of which includes the Route des Monts Otish from Chibougamau to the Otish Mountains. This particular roadway, now known as the Route 167 Extension, is the road development project designed to connect the communities of Chibougamau and Mistissini and several prospective mining projects and the proposed Albanel-Temiscamie-Otish Park in the area.

One company that is particularly pleased with the plans for this roadway extension is Stornoway Diamond Corporation of Vancouver because its Renard Diamond Project is one of the many prospective mining projects located in the area. The Renard project, contained within the Foxtrot Property, is a 50:50 joint venture between Stornoway and SOQUEM INC, of Val-d’Or.

“The announcement of major capital funding for the Route 167 Extension is a significant milestone in the development of the James Bay region of northern Quebec,” said Matt Manson, President and CEO of Stornoway. “We welcome the proactive and expeditious approach taken by the Government of Quebec in the provision of infrastructure support of the region, which will greatly assist the development of what we hope will become Quebec’s first diamond mine.”