The Conversation (0)
Zone Resources Inc. (CVE:ZNR) reports that it has signed a contract to carry out diamond drilling on its Labrador Trough iron properties, in the Nunavik district of Northern Quebec.
The press release is quoted as saying;
The property is northwest of Adriana Resources’ Lac Otelnuk project (wherein Wuhan Iron and Steel Corp. has paid $120-million for a 60-per-cent interest), and New Millennium’s Kemag and Labmag projects (which has an option agreement with Tata Steel for a $4.9-billion development which includes the construction of a 750-kilometre slurry pipeline).
The recent granting of a drill permit by the Quebec government has allowed the company to enter into a drilling contract with Discovery Diamond Drilling Limited, a company with extensive experience in drilling under Arctic conditions. Winter drilling during the 1950′s, on the current Zone properties, shows that drilling can be carried out year round. It is anticipated that drilling will commence in August of 2011.
Click here to access the entire news release.
Click here to access Zone Resources’ company profile.(TSXV:ZNR)