Zone Resources Inc. (CVE:ZNR) reports that it has received TSX Venture Exchange approval to acquire the Girard Iron ore project, Nunavik, northern Quebec.
The press release is quoted as saying:
The Girard Iron Ore Project is located in the Labrador Trough, a world famous iron ore belt. The property is northwest of Adriana Resources’ Lac Otelnuk Project (wherein Wuhan Iron and Steel Corp. has paid $120 million for a 60% interest), and New Millenium’s Kémag and Labmag projects (who have an option agreement with Tata Steel for a $4.9 billion development which includes the construction of a 750 km slurry pipeline). The Girard Iron Ore Project has not been subjected to modern exploration methods and only minimal drilling has been carried out in the past.