THUNDER BAY – MINING – Noront Resources CEO and President Al Coutts shares details on the company’s purchase of Cliffs Natural Resources properties in the Ring of Fire in Northwestern Ontario.
Noront Resources, Coutts explains has gone through a “game changing” process from being one of the very junior mining companies to a whole new status.
Coutts states that changes many things and he is looking to meet with First Nations leaders from Matawa First Nations, the Ontario and Federal Governments with an eye to seeing how this entire project can not move forward.
The Transaction includes the acquisition of approximately 103 claims currently owned by CCOI and CCFNI, including: a 100% interest in the Black Thor chromite deposit; a 100% interest in the Black Label chromite deposit; and, a 70% interest in the Big Daddy chromite deposit. It also gives Noront 85% ownership of the McFauld’s Lake copper zinc resource.
“This purchase consolidates the world-class discoveries made in the Ring of Fire,” said Noront President and CEO Alan Coutts. “It also underscores Noront’s long-standing belief and commitment to the region. We have made significant investments in the Ring of Fire and our team has become experts in the region from both a technical and social point of view. We also believe in the considerable exploration upside which we are eager to develop.”