NEW YORK Noront Resources Ltd. has reached an agreement to acquire an exploration camp from Cliffs Chromite Ontario Inc. for the development of its Eagles Nest nickel-copper project in northern Ontarios Ring of Fire.
Cliffs McFaulds Lake is adjacent to Noronts Esker Camp, and will be used as a construction base for the development of Eagles Nest. The transaction is expected to close in the third quarter.
Toronto-based Noront also received approval for a mining lease application for its Eagles Nest project and Blackbird chromite project.
The lease covers more than 10,131 acres in the Ring of Fire and gives Noront the right to extract mineral products for 21 years, subject to certain requirements of the mining act.