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Corazon Mining to Buy Manitoba-based Victory Nickel Project
Nov. 06, 2014 12:39PM PST
Base Metals Investing Corazon Mining Ltd. (ASX:CZN) announced that the terms have been finalized for its acquisition of Victory Nickel Inc.’s (TSX:NI) Victory Nickel project, located in Manitoba’s Lynn Lake nickel-copper field.
Corazon Mining Ltd. (ASX:CZN) announced that the terms have been finalized for its acquisition of Victory Nickel Inc.’s (TSX:NI) Victory Nickel project, located in Manitoba’s Lynn Lake nickel-copper field.
Highlights include:
- Lynn Lake is Canada’s 3rd largest nickel producing district; Victory Nickel Project contains the main nickel resources in Lynn Lake
- Victory Nickel Project hosts 17Mt @ 0.66% nickel & 0.33% copper (NI 43-101 resource @ plus 0.6% NiEq, a “foreign estimate of mineralisation” not reported in accordance with JORC)
- Strategic acquisition complements Corazon’s adjacent Lynn Lake Nickel Project, consolidates Corazon’s ownership of the Lynn Lake mining centre
- Acquisition creates a significant nickel-copper asset with benefits in scale and mine-life for potential future mining operation