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Noront to buy Cliffs exploration camp

Keywords: Tags  Noront Resources, Ring of Fire, Eagle's Nest, Blackbird, nickel, copper, chromite, acquisition Cliffs Chromite Ontario

NEW YORK — Noront Resources Ltd. has reached an agreement to acquire an exploration camp from Cliffs Chromite Ontario Inc. for the development of its Eagle’s Nest nickel-copper project in northern Ontario’s Ring of Fire.

Cliffs’ McFaulds Lake is adjacent to Noront’s Esker Camp, and will be used as a construction base for the development of Eagle’s Nest. The transaction is expected to close in the third quarter.

Toronto-based Noront also received approval for a mining lease application for its Eagle’s 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.

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