Two Vancouver-listed juniors, Noront Resources and Golden Trump Resources, have signed a joint-venture agreement covering six claim blocks north of the Voisey Bay area of Labrador.
Golden Trump can earn an undivided 50% interest in the 7,000-acre property by paying Noront $10,000 cash and issuing to Noront 100,000 Golden Trump shares.
Golden Trump will also finance an airborne geophysical survey, following which all exploration costs will be shared equally between the two partners.
Meanwhile, Noront has reached an agreement with Republic Goldfields (VSE) concerning an additional 80 claims north of the Voisey Bay discovery. Noront will acquire the 4,400-acre property for $8,000 and 100,000 Noront common shares. Republic will retain a 3% net smelter return royalty, subject to a 2% buyback for $2 million.
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