Vulcan Minerals Acquires 51 Percent Interest in Tasisuak from Nortec

Vulcan Minerals Inc. (TSXV:VUL) announced that it has acquired Nortec Minerals Corp’s interest in the Tasisuak Lake property.

As quoted in the press release:

The Tasisuak Lake Nickel/Copper/PGE property is situated approximately 50 km northwest of the Voisey’s Bay Nickel/Copper mine. Previous work on the property included shallow drilling with encouraging results of up to 14 metres of 1.02% Nickel, 0.51% Copper, 0.03% Cobalt, 0.12% Chromium and 0.35 g/t Platinum Group Elements plus Gold. Many geophysical targets and surface showings remain untested. The mineralization occurs in noritic intrusive rocks within the Tasiyuak gnesis marginal to the Nain Plutonic Suite. The Company plans to commence a detailed compilation and integration of all previous work towards soliciting a joint venture partner and formulating a priority set of drilling targets. The proposed acquisition is subject to TSX Venture Exchange approval.

To view the whole press release, click here.

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Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) primary asset, located in the mining friendly state of Idaho, is the 100% owned, Idaho Cobalt Project. The ICP is a unique, high grade, primary cobalt deposit which is comprised of the mine and mill site and the proposed refining facility, the Cobalt Production Facility, a stand-alone hydrometallurgical facility that will process the ICP Mine concentrates into cobalt sulfate, copper sulfate, copper concentrate, magnesium sulfate and gold. Connect with FCO to get their latest news instantly.

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