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Kenorland Announces Sale of Fox River Property
Kenorland Announces Sale of Fox River Property Canada NewsWire ...
About this update from Kenorland Minerals Ltd.
[{"type":"text","content":"\n \n \n \n Kenorland Announces Sale of Fox River Property\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n July 8, 2021\n \n /CNW/ -\n \n Kenorland Minerals Ltd. (\"Kenorland\n \n \")  is pleased to announce it has entered into a purchase agreement dated\n \n June 22, 2021\n \n (the \"\n \n Purchase Agreement\n \n \") with Superior Nickel Inc. (\"\n \n Superior\n \n \"), a private\n \n Ontario\n \n company pursuant to which Superior will acquire a 100% interest in and to the Fox River property (the \"\n \n Property\n \n \"), located in the Fox River Belt,\n \n Manitoba\n \n .\n \n \n As consideration for the Property, Superior will issue to Kenorland 2,665,000 common shares in its capital and will grant to Kenorland a 2% net smelter return royalty on the Property.\n \n \n \n About the Fox River Belt and Kenorland's Fox River Property\n \n \n \n The Fox River Belt (FRB) forms a portion of the Circum-Superior Belt in\n \n Northern Manitoba, Canada\n \n which is analogous to\n \n Manitoba's\n \n world class Thompson Nickel Belt (TNB) and the Cape Smith Belt (CSB) of\n \n Northern Quebec\n \n , host of the Ragland Nickel sulfide (NiS) deposits. Similar to the TNB and CSB, the belt is composed of sedimentary rocks intercalated with thick sequences of komatiitic basalts, and associated ultramafic intrusive rocks which formed along the margin of the Superior Craton during the Paleoproterozoic.\n \n \n Within the belt, the Fox River Sill is comprised of a layered mafic-ultramafic intrusive complex. Geochemical analysis of the sill indicates the potential for economic concentrations of Platinum group element (PGE) within the belt. This is supported by areas of notable PGE occurrences and highlights the prospectivity of the sill for significant undiscovered PGE deposits. Additionally, the basin assemblages of the Superior margin are host to world-class NiS districts such as the\n \n Thompson\n \n and Raglan Nickel camps. Geochemical evidence, particularly the incorporation of sulf...