South32 walks away from Canadian project

SOUTH32 has withdrawn from Northern Shield Resources’ Huckleberry project in Canada’s Labrador Trough.

South32 walks away from Canadian project South32 walks away from Canadian project South32 walks away from Canadian project South32 walks away from Canadian project South32 walks away from Canadian project

The company signed a deal with Toronto Venture Exchange-listed Northern Shield in mid-2016 over the nickel-copper-platinum project.

South32 could spend C$2.5 million to get to 50%, which it did, and a further $2.5 million to reach 70%.

However, the company informed Northern Shield that it would relinquish its 50% share and terminate the joint venture.

Northern Shield president and CEO Ian Bliss said the company remained confident in the technical merits and exploration potential of Huckleberry.

"We are very pleased with the relationship forged with South32 and appreciate their dynamic approach to exploration,” he said.

“We look forward to oppo...