Big North Graphite Signs to Acquire 100% Interest in Duncan Kerr Cobalt Project

Big North Graphite (TSX.V:NRT) has signed a Letter of Intent to acquire all of the assets and undertaking of the past producing Duncan Kerr Property and related production facilities and equipment located in the Cobalt region of Ontario, Canada.
According to the press release:

“With the global expansion of the lithium battery industry, cobalt has become a strategic metal making this a very significant acquisition for us. Advancing a past producing opportunity in the historical Cobalt Mining Camp will not only give a new direction for us, but also build shareholder value as we look to further develop the asset in a sector which is poised to experience great growth and demand in the foreseeable future ” commented Spiro Kletas, President and CEO.
The Duncan Kerr Project is located within the historical Cobalt camp in northeastern Ontario and consists of two contiguous patented mining claims known as Parcels 1831 NND, and 3694 NND, totalling 32.374 ha in area. The Property encompasses part of the historical mine workings of the Kerr Lake Mine located on Parcel 1831 NND, as well as the historical mine workings of the Lawson Mine located on Parcel 3694 NND. An estimated total of 32,715,590 oz of Ag have been produced from the Kerr Lake and Lawson Mines (Cunningham, 1963). A well maintained municipal road, access to a rail line, and power line all service the Property.
Potential for discovering additional mineralization exists along known structures that have been historically mined and elsewhere on the property.
The acquisition of the Duncan Kerr Project is subject to a number of conditions, including, the Company’s due diligence, the negotiation and execution of a definitive agreement and required regulatory approvals.

Click here for the full press release.