Soquem

What Soquem does

SOQUEM Inc. (Société québécoise d'exploration minière), founded in 1965 and headquartered in Val-d'Or, Quebec, is a wholly-owned subsidiary of Investissement Québec, the province's investment arm. The company conducts mineral exploration across Quebec — its 60-year track record includes hundreds of projects leading to discoveries of gold, diamonds, lithium, and base metals, and its work has contributed to the creation of over 2,000 permanent jobs in the province. SOQUEM operates a portfolio spanning more than 40 projects across five Quebec regions (Abitibi, Grenville, Eeyou Istchee James Bay, Nunavik, and Côte-Nord), covering gold, copper, nickel, lithium, rare earth elements, and PGE targets.

SOQUEM's underlying technology combines geological mapping, predictive modeling, and systematic regional-scale data analysis. Through its strategic alliance with Azimut Exploration, it leverages the AZtechMine Expert System, a proprietary numerical data processing methodology that integrates geochemistry and geophysics to statistically identify signatures of mineralized systems. The product surface includes flagship 100%-owned assets such as the Wagosic silver-base metal project, the Cardinal and Beauregard Ni-Cu-PGE projects, and the Lespérance-Lac Shortt gold project, plus key partnered assets including the B26-Brouillan polymetallic deposit (80% Abitibi Metals / 20% SOQUEM), the Galinée lithium property (25% carried interest with Li-FT Power operating), the Kwyjibo rare earth project (optioned to Consolidated Lithium Metals), and the Malaco Mountain and Nachicapau copper-gold-REE projects in the Labrador Trough (50/50 with Midland Exploration).

The business model is asset-and-partnership-based rather than product-priced. SOQUEM generates economic value through three primary mechanisms: (1) joint venture arrangements (typically 50/50) where partner companies earn additional interests by meeting exploration expenditures and milestones; (2) option agreements where partners can earn up to 80% interest through staged cash payments, share issuances, and exploration commitments; and (3) strategic alliances covering defined geographic areas for systematic, multi-year exploration programs. SOQUEM also retains carried interests and NSR royalties on divested assets (e.g., 1% NSR on Pikwa). Its customer base is exclusively Quebec- and Canada-domiciled mining and exploration companies, and the company does not sell products or services directly to end markets.

Name

Soquem

Legal name

SOQUEM Inc.

Website

https://soquem.qc.ca

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

11–50 employees

Short description

SOQUEM is a Quebec government-owned mineral exploration subsidiary of Investissement Québec, founded in 1965, that conducts and partners on gold, copper, nickel, lithium, and rare earth exploration projects across Quebec through joint ventures and option agreements.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (2131), Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (21229)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Copper Exploration & Resource Development (IMAKADAA), Precious Metals Exploration & Project Development (IMAKAEAI)

Keywords

• Mineral exploration services
• Gold exploration projects
• Lithium and base metals
• Rare earth exploration
• Joint venture partnerships

Headquarters

HQ city

Val-d'or

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D

Distribution channels3 records

Marketing channels3 records

Core offering

SOQUEM conducts mineral exploration across Quebec, advancing a portfolio of 100%-owned and partnership projects targeting gold, lithium, copper, nickel, rare earths, and other base/critical metals. The company funds and operates exploration programs directly and through joint ventures, option agreements, and strategic alliances, allowing partner mining/exploration companies to earn interests by meeting exploration expenditure and milestone commitments.

Product overview

SOQUEM (Société québécoise d'exploration minière) is a mining exploration company and subsidiary of Investissement Québec, offering mineral exploration services across Quebec through a portfolio of exploration projects and strategic alliances. The company operates 100% SOQUEM-owned projects including the flagship Wagosic silver-base metal project and various Ni-Cu-PGE properties, alongside partnership projects such as the B26 copper-gold polymetallic deposit (with Abitibi Metals), the Northern Nickel Corridor (with Azimut), the Galinée lithium property, the Kwyjibo rare earth project (with Consolidated Lithium Metals), and the Malaco Mountain and Nachicapau copper-gold-REE projects in the Labrador Trough (with Midland Exploration). SOQUEM's business model combines direct ownership exploration with earn-in joint venture arrangements where partner companies can acquire interests by meeting exploration expenditure commitments.

Differentiator

Problem solved

Functional benefit

Products and services

• B26-Brouillan Polymetallic Deposit Copper-gold polymetallic deposit located 90 km west of Matagami in Quebec, operated in partnership with Abitibi Metals (80% Abitibi, 20% SOQUEM); one of SOQUEM's key advanced exploration assets with a 40,000m drill program underway and a Mineral Resource Estimate of 25+ million tonnes at 2.1% Cu Eq.
• Wagosic Project 100% SOQUEM-owned exploration project located 90 km west of Matagami near the former Selbaie mine, featuring silver-rich epithermal mineralization and VMS-style deposits including the Detour-Selbaie Zone, Silver 2 Zone, and Xylem Zone, with high-grade intercepts such as 706.6 g/t Ag over 9.30m.
• Northern Nickel Corridor Project Regional-scale strategic alliance with Azimut Exploration covering 27 claim blocks (1,635 claims) in the Eeyou Istchee James Bay region, where SOQUEM can earn up to 60% interest by incurring $11 million in exploration expenditures over two option phases; targets nickel and critical metals across a 360-km by 60-km area.
• Galinée Lithium Property Lithium exploration property in the James Bay region; SOQUEM retains a 25% carried interest under JV with LIFT Power as operator following consolidation of the Galinée-Adina lithium district, with high-grade lithium intervals including 1.62% Li2O over 158.0m intercepted.
• Kwyjibo Rare Earth Project Rare earth project located 125 km northeast of Sept-Îles in the Côte-Nord region, 100% owned by SOQUEM with Consolidated Lithium Metals optioning up to 80% interest; features an IOCG-style mineral system with significant rare earth enrichment (Nd, Pr, Dy, Tb, Y).
• Malaco Mountain Project Copper-gold-rare earth element exploration project in the Labrador Trough, operated in partnership with Midland Exploration (50/50), with 2025 high-grade discovery returning up to 31.60% Cu, 6.92 g/t Au, and 1.77% REE; joint annual budget of $1 million split 50/50 for 2025-2026.
• Nachicapau Project Copper-gold-silver project in the Labrador Trough operated jointly by Midland and SOQUEM (50/50), featuring a major hydrothermal system with high-grade copper up to 13.70%, gold up to 4.83 g/t, and silver up to 65.40 g/t.
• Cardinal Property 100% SOQUEM-owned nickel-copper-PGE magmatic deposit project located 80 km southeast of Chibougamau, featuring the Richelieu Zone discovery with grades of 0.47% Ni, 0.76% Cu, and 0.29 g/t Pd over 34.6m.
• Beauregard Property 100% SOQUEM-owned magmatic Ni-Cu-PGE deposit project located approximately 110 km northeast of Chibougamau, currently at the discovery/exploration drilling stage.
• Lespérance-Lac Shortt Project 100% SOQUEM-owned gold exploration project located between the closed Bachelor and Lac Shortt mines in Eeyou Istchee James Bay territory, featuring gold intersections including 6.33 g/t Au over 10m.
• Menarik West Property Gold exploration property operated by Harfang Exploration with SOQUEM earning an interest through funding, featuring high-grade gold discoveries including multiple showings and new mineralized zones extending beyond the Pierre Zone; DC-IP survey delivered high-confidence drill targets at the Pierre intrusion and Cox zone.
• Fosse du Labrador Strategic Alliance Strategic alliance between SOQUEM and Midland Exploration targeting gold and strategic minerals across the Labrador Trough in Nunavik, with an exploration budget of up to $5 million over four years and a $1 million annual joint budget.

Quantifiable outcome

• Over 25 million tonnes of resources defined at B26 deposit with 124% resource growth
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered core and minor.

• Azimut Exploration Inc.coreStrategic or Co-development Partner · 19 May 2026SOQUEM and Azimut formed a regional-scale strategic alliance covering the Northern Nickel Corridor Project (NNC) comprising 27 claim blocks (1,635 claims) in the Eeyou Istchee James Bay region. SOQUEM can earn up to 60% interest by incurring $11 million in exploration expenditures and making $350,000 in cash payments over two option stages. Azimut operates during the first year, then SOQUEM assumes the operator role.
• TomaGold CorporationminorStrategic or Co-development Partner · 1 March 2026SOQUEM optioned properties to TomaGold for the Berrigan Mine project extension drilling program. TomaGold is conducting Phase 2 drilling with visual observations of mineralization described as extremely encouraging. SOQUEM retains interest in optioned Chibougamau Independent Mines and Globex properties.
• Li-FT Power Ltd. (LIFT)coreStrategic or Co-development Partner · 23 February 2026LIFT acquired Azimut's 50% interest in Galinée property and SOQUEM's 25% interest for total of 75%. LIFT issued 1,000,000 shares to SOQUEM. SOQUEM retains 25% carried interest under joint venture arrangement with LIFT as operator. Transaction part of LIFT's consolidation of the Galinée-Adina lithium district.
• Consolidated Lithium Metals Inc.coreStrategic or Co-development Partner · 17 November 2025Consolidated Lithium Metals can earn up to 80% interest in the Kwyjibo Rare Earth Project through a two-phase agreement: Phase I - earn 60% with C$5.65m cash, C$5.5m shares, and C$12m exploration investment; Phase II - earn additional 20% with C$4.5m cash, C$4.5m shares, and C$13m exploration investment. SOQUEM retains 20% interest and receives impact-causing exploration work authorization.
• PMET Resources Inc.minorStrategic or Co-development Partner · 12 November 2025Azimut and SOQUEM sold their 50/50 Pikwa Property to PMET Resources for $3.1 million total consideration (420,958 shares each to Azimut and SOQUEM). Both Azimut and SOQUEM retain 1.0% NSR royalty on the property.
• Harfang Exploration Inc.minorStrategic or Co-development Partner · 1 June 2025SOQUEM is funding exploration and earning an interest in Harfang's Menarik West Property through a joint venture arrangement. Partnership includes DC-IP survey at Menarik West completed in partnership, delivering high-confidence drill targets at Pierre intrusion and Cox zone.
• Abitibi Metals Corp.coreStrategic or Co-development Partner · 1 November 2023Abitibi Metals and SOQUEM in 80/20 joint venture on B26 Polymetallic Deposit. Abitibi exercised option early to secure 80% ownership by issuing 3,793,864 shares to SOQUEM. 40,000m drill program underway in 2026. Mineral Resource Estimate grew 124% to 25+ million tonnes at 2.1% Cu Eq.
• Midland Exploration Inc.coreStrategic or Co-development Partner · 19 February 2021SOQUEM and Midland formed a strategic alliance for exploration in the Labrador Trough region of Nunavik, Quebec. The alliance covers gold and strategic minerals exploration with investments up to $5 million over four years. Joint annual budget of $1 million (50% each) for Nachicapau and Malaco Mountain projects in 2025-2026.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Azimut Exploration Inc. Quebec-focused mineral exploration company that is both a strategic partner (Northern Nickel Corridor, Galinée) and direct peer of SOQUEM, using the same AZtechMine targeting methodology across similar Quebec jurisdictions targeting gold, lithium, nickel, and copper.
• Abitibi Metals Corp. Junior exploration partner operating the B26-Brouillan Polymetallic Deposit JV with SOQUEM (80/20), focused on advancing copper-gold polymetallic resources in Quebec with active 40,000m drill program.
• Midland Exploration Inc. Quebec-based mineral exploration company operating as SOQUEM's strategic partner on Labrador Trough and Nunavik projects (Malaco Mountain, Nachicapau) with comparable focus on gold, copper, nickel, and strategic minerals in Quebec.
• Li-FT Power Ltd. Lithium-focused exploration company that acquired SOQUEM's partial interest in the Galinée Property and now operates the JV, directly comparable as a lithium exploration peer in the James Bay region of Quebec.
• Brunswick Exploration Inc. Quebec-focused lithium and critical minerals explorer operating in the same James Bay region as SOQUEM's Galinée project, with comparable grassroots-to-advanced exploration approach targeting battery metals.
• Harfang Exploration Inc. Quebec-focused gold and critical minerals explorer partnered with SOQUEM on the Menarik West Property, operating in the same James Bay and Abitibi regions with comparable project scale and exploration stage.

Broad incumbents

• Agnico Eagle Mines Limited: Senior Canadian gold producer with extensive Quebec operations including the Abitibi region where SOQUEM operates, comparable as a major incumbent in the same Quebec mining districts with overlapping exploration interests.
• Osisko Mining Inc. Major Quebec-focused gold exploration and development company operating the Windfall Gold Project, comparable to SOQUEM as a Quebec gold exploration incumbent with significantly larger scale and advanced-stage assets.

Emerging players

• PMET Resources Inc. Junior critical minerals company that acquired the Pikwa Property from the SOQUEM-Azimut JV, with comparable Quebec critical minerals exploration focus and similar early-stage profile.
• Consolidated Lithium Metals Inc. Junior critical minerals company optioning up to 80% in SOQUEM's Kwyjibo Rare Earth Project, focused on rare earth and lithium exploration with comparable early-stage Quebec asset profile.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/soquem_exploration
• LinkedInlinkedin.com/company/soquem-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Soquem