Nuinsco and Ocean Partners Gain Approval to Access Chibougamau Assets

29 June 2011 (Last Updated June 29th, 2011 18:30)

Nuinsco Resources and Ocean Partners have received approval from the Quebec Superior Court in Canada to acquire all exploration, mining and processing assets previously owned by Les Ressources Campbell and Ressources MSV. The assets comprise seven mines located near Chibougamau, Quebec.

Nuinsco Resources and Ocean Partners have received approval from the Quebec Superior Court in Canada to acquire all exploration, mining and processing assets previously owned by Les Ressources Campbell and Ressources MSV.

The assets comprise seven mines located near Chibougamau, Quebec.

The assets also include two development-stage properties - Corner Bay and the Dore Lake Ramp - an operational 3,000t/day mill and a permitted tailings facility, which Nuinsco and Ocean Partners will jointly own.

Chibougamau's Lake Dore Complex comprises of 18 separate mines, which have produced a total of 47.4Mt of ore containing 1.6bn pounds of copper and 3.4Moz of gold to date.