https://www.miningweekly.com

Transition Metals and Nunavut Resources add prospective land to portfolio

Transition Metals and Nunavut Resources add prospective land to portfolio

Photo by Bloomberg

23rd July 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – Canadian project generator Transition Metals on Wednesday announced that 433 km2 of high potential gold and base metal exploration properties had been acquired in Nunavut through its strategic alliance partnership with Nunavut Resources Corporation (NRC).

The TSX-listed project generator, through its subsidiary HTX Minerals, was in March 2012 enlisted to help the Inuit-owned NRC to find mineral projects over vast swathes of prospective land, with the aim of developing the deposits to the benefit of the local inhabitants.

Transition said the alliance had acquired properties along what had been termed the Izok-Grays Bay road infrastructure development corridor after signing a mineral exploration agreement with Nunavut Tunngavik, which managed the subsurface mining rights on Inuit-owned lands in Nunavut on behalf and for the benefit of all Inuit.

“We are pleased to have assembled such high-potential exploration properties in Nunavut. Our objective has been to acquire the best exploration opportunities along the proposed Izok Lake – Grays Bay development corridor and make discoveries that can contribute to and benefit from economic advantages that would come from any road development into the area.

“We look forward to advancing these projects together with our partner NRC and to attracting new investment to the region for the benefit of shareholders, Inuit and the people of Nunavut,” Transition president and CEO Scott McLean said.

Since 2012, the alliance had assembled a 1 248 km2 portfolio of gold, base metal and diamond properties in Nunavut and the Northwest, and had completed about $1.8-million of exploration work.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer
Gold, hydrogen, mining boost make headlines
Gold, hydrogen, mining boost make headlines
15th March 2024
Magazine round up | 15 March 2024
Magazine round up | 15 March 2024
15th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.199 0.238s - 90pq - 2rq
Subscribe Now