Vortex Pipes Ltd. has entered into option agreements to acquire
up to 100 percent of the Snelgrove DSO iron ore project in
Newfoundland and Labrador, Canada.
This venture marks the Wangara,
Australia-based pipemakers first foray into iron ore
exploration, Vortex said May 23.
The project, owned by
Montreal-based Cap-Ex Iron Ore Ltd. and Vancouver-based Preston
Mineral Resources Ltd., consists of 593 claims covering an area
of roughly 57 square miles. It is adjacent to hematite deposits
owned by Mamba Minerals Ltd.
"We see this as an attractive entry point for Vortex
shareholders to potentially secure a foothold in a highly
prospective iron ore province alongside some of the
worlds largest and most respected iron and steel
companies," director James Robinson said in a statement.
A version of this article
was first published by AMM sister publication Steel