Fort St James to buy property in Bathurst mining camp

24th May 2021

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online


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Exploration company Fort St James Nickel on Friday announced a letter of intent agreement to buy a base and precious metal property in the Bathurst mining camp, in northern New Brunswick.

The Nepisiguit project, located about 30 km southwest of the city of Bathurst, borders the Heath Steele property of Trevali Mining.

Fort St James said that diamond drilling by a private company had intersected semi-massive sulphides (pyrite) and magnetite iron formation. The company reported that it was sampling this core for gold assay and multi-element, including copper, lead, zinc and silver, analysis.

Further, Fort St James announced that it had arranged a nonbrokered private placement of up to $250 000 in flow-through financing, priced at C$0.25 a unit,  and up to $270 000 in non-flow-through financing, priced at C$0.18 a unit.

Shares in the explorer rose 8.7% on Friday, closing at C$0.25 a share.

Edited by Creamer Media Reporter


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