Zone Resources Inc. (CVE:ZNR) reports mobilizing a drill to the Labrador Trough to begin diamond drilling on the Zone land package.
The press release is quoted as saying:
Zone has optioned four iron properties, totaling 41,500 hectares, in the Labrador Trough in Nunavik in Northern Quebec. Drilling in the 1950s had outlined a number of zones of iron mineralization. The properties are 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 have an option agreement with Tata Steel for a $4.9-billion development which includes the construction of a 750-kilometre slurry pipeline).