MANITOBA -
Fjordland Exploration has executed a non-binding letter of intent with
CanAlaska Uranium to be granted the option to acquire up to an 80% interest in CanAlaska’s wholly-owned Hunter and Strong properties, part of CanAlaska’s North Thompson nickel project in the province.
Under the terms of the agreement, Fjordland can earn its interest by incurring exploration expenditures that total $9 million, issuing 8.5 million shares and making cash payments of $150,000 over a period of 66 months.
The 187-sq.-km Hunter and Strong claim group is located 25 km north of the Thompson mine operated by
Vale and 285 km north of Winnipeg.
In a media brief, the companies said CanAlaska has been exploring the Thompson Nickel Belt for the past several years and in 2017 commissioned Condor Geophysical Consulting to reprocess historic 2007 electromagnetic airborne surveys.
According to the miners, the review demonstrated 14 potential nickel-copper-platinum group element exploration targets, of which six are considered a priority and had never been drilled by
Falconbridge Nickel, the former tenure holder.
“The North Thompson nickel belt project meets Fjordland’s long-standing exploration criteria in that the high-quality work done to date clearly demonstrates large scale, drill-ready targets in a well-documented geologic setting,” Richard Atkinson, Fjordland’s president, said in the statement.
This story originally appeared on www.Mining.com.
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