A merger proposed in late May between Ursa Major Minerals Incorporated and Canadian Arrow Mines Limited has been cancelled.
Sudbury-based Canadian Arrow said in a release that it has not been able to reach an agreement with Ursa Major "on certain matters."
The Kenbridge Nickel Project 70 kilometres southeast of Kenora is Canadian Arrow's main priority, a nickel-copper sulphide deposit containing more than 44,000 tonnes of nickel in the measured and indicated classes.
Mining at Ursa Major's Shakespeare nickel project, located 70 kilometres west of Sudbury, was suspended in October 2008. A total of 150,000 tonnes of ore was mined and processed at Xstrata Nickel's Strathcona Mill.
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