Zara Resources Inc. (CNSX:ZRI) and Pele Mountain Resources (TSX:GEM) have announced the execution of an agreement in which Zara will purchase 100% of the Pigeon River claims from Pele for $700,000. Pigeon River has an unexplored magnetic target which may potentially host nickel and other mineralization.
As quoted in the press release:
Alan Aubut P.Geo, an independent geological consultant with expertise in nickel/copper/platinum exploration in the Mid Continent Rift stated “The Pigeon River property possess many similarities to a number of world class nickel districts around the world including the Thompson Nickel Belt in Canada, where there has been continuous production since the early 1960′s of high grade nickel.”
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