Noront Resources is delaying the release of a feasibility study for its nickel-copper-platinum-palladium Eagle’s Nest project in the Ring of Fire.
The company said it wants to wait until after it evaluates how the project will be impacted by the recent announcements that Cliffs Natural Resources’ would locate its ferrochrome facility in Sudbury and that the provincial government will support a transportation corridor in the area.
“The company views the announcements by Cliffs and the Government of Ontario on May 9, 2012 as a very positive development in unlocking the vast mineral wealth identified in the Ring of Fire district of Ontario,” company president and CEO Wes Hanson said in a news release.
“In order to evaluate the potential benefits to our shareholders, the company has decided to delay issuing the feasibility study for our flagship Eagle’s Nest nickel sulphide deposit,” he added. “The commitment, by both parties, to a north-south access route and the timing highlighted in the announcements warrant a thorough review to evaluate the potential impact to our planned development of the Eagle’s Nest deposit.”
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