Adriana and WISCO Sign Joint Venture

- December 20th, 2011

Adriana Resources (TSX:ADI) reported it has signed a join venture with WISCO that will control the Lac Otelnuk and December Lake iron ore properties.

Adriana Resources (TSX:ADI) reported it has signed a join venture with WISCO that will control the Lac Otelnuk and December Lake iron ore properties.

As quoted in the press release:

According to a binding joint venture agreement, which was a year in the making, Adriana will transfer ownership of the Lac Otelnuk and December Lake properties to a joint venture company that will be 60 percent owned by WISCO and 40 percent owned by Adriana. The core of the joint venture is the remote but gargantuan multi-billion tonne Lac Otelnuk iron ore project.

Click here to read the Adriana Resources (TSX:ADI) press release. 

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