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Inco to sell off exhausted mines (12/01)

A deal is expected to be signed in the near future between Toronto-based Fort Knox Gold Resources and Inco Ltd. that will give Fort Knox 100 per cent interest in Inco's exhausted mines.
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A deal is expected to be signed in the near future between Toronto-based Fort Knox Gold Resources and Inco Ltd. that will give Fort Knox 100 per cent interest in Inco's exhausted mines. A spokesperson with Fort Knox says the five mining properties - McCreedy West, Levack, Victoria Kirkwood and Norman North - harbour potential for significant copper, nickel and platinum-group metal finds. The company hopes to explore the properties for new ore bodies and mineral zones and is planning to invest $30 million over a 52-month period to explore the properties.

Inco closed the mines once the reserves were depleted, and focused their attention on their core mines.




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