Ring of Fire Closes Acquisition of Project 81

- October 11th, 2011

Ring of Fire Resources Inc. (TSXV:ROF,FRA:RG5) announced it has closed transactions with Franco-Nevada and has completed the purchase of Project 81.

Ring of Fire Resources Inc. (TSXV:ROF,FRA:RG5) announced it has closed transactions with Franco-Nevada and has completed the purchase of Project 81.

As quoted in the press release,

Project 81 is a 60,701 hectare patented land package divided into 2 blocks. The patents include surface, mineral and timber rights, and host a significant timber resource plus a number of zones that have historical exploration identifying nickel and gold mineralization (these sample results are historical and non NI43-101 compliant) from work carried out in the 1960s and 1970s some of which have been previously announced.

Ring of Fire President, Vance White said,

We are delighted to have closed on the purchase of this significant asset as we have a strong belief that it will be a ‘Company Maker.’ Apart from making us one of the largest landholders in a very mining-friendly area with advanced infrastructure, it provides us with an opportunity to expand upon discoveries made in the mid 1960s using modern exploration technology.

Click here to read the Ring of Fire Resources Inc. (TSXV:ROF,FRA:RG5) press release.   

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