WMC Resources Marketing, the Canadian unit of WMC Resources (WMC-N), has entered a confidentiality agreement with Montreal-based Matamec Explorations (MAT-V) for negotiations on the Vulcain nickel-copper property.
WMC gains access to Matamec’s exploration data for 60 days, after which it must either walk away or begin negotiations for the project.
Recent drilling on Vulcain, 165 km southeast of Val d’Or, returned nickel grades of 0.26% to 2.09% and copper grades of 0.29% to 1.58% over significant core lengths, ranging from 4.6 to 15.7 metres (T.N.M., April 8/05). The new mineralization is south of the Renzy Lake open pit, which produced about 650,000 tonnes of low-grade nickel and copper ore between 1969 and 1972.
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