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Northern Shield Resources Inc. (TSXV:NRN) announced it has signed a letter of intent with Impala Platinum (LSE:IPLA) regarding for an option on Northern Shield’s Idefix property.
Northern Shield Resources Inc. (TSXV:NRN) announced it has signed a letter of intent with Impala Platinum (LSE:IPLA) regarding for an option on Northern Shield’s Idefix property.
As quoted in the press release:
The LOI contemplates the parties signing “subject to South African regulatory approval) an Option and Joint Venture Agreement that would allow Impala to earn a 50% interest in Idefix by making cash payments to Northern Shield totaling $300,000 over two years and incurring $3.2 million in exploration expenditures at Idefix or the surrounding area over three years, with total expenditures of $1,950,000 committed for the first two years the agreement.
Click here to read the Northern Shield Resources Inc. (TSXV:NRN) press release.