Wyloo Metals, which earlier this year bought Noront Resources for its high-grade nickel deposits in the Ring of Fire district of Ontario, is expanding in Canada, with its eye on nickel and copper in the Grenville region of Quebec.
Wyloo this week announced the acquisition of Baie de Moisie – a 3 000-ha exploration property, 40 km northeast of Sept-Iles.
“We were excited by the nickel/copper mineralisation we have seen exposed at the surface level and because it’s one of the few areas with this potential that remains largely unexplored,” said CEO Luca Giacovazzi.
Prior to the transaction, a private prospecting group had identified more than 2 km of mafic rock with nickel- and copper-rich material over a 600 m strike length. Since then, Wyloo has carried out additional geological mapping and believes the mafic intrusion could be more than 6 km long.
“The property’s ideal location near the Port of Sept-Îles is also attractive as it would provide cost-effective, year-round access to the project,” said Wyloo.
Wyloo has recently completed an aerial electromagnetic survey of the area to identify priority targets for first drill testing in 2023.
The property complements its existing Canadian exploration portfolio in the Ring of Fire, and the West Raglan joint venture with Orford Mining Corporation in Nunavik, Quebec.