Wyloo CEO, Luca Giacovazzi said the company was attracted to the property because of the largely unexplored potential of the Grenville region.
“We were excited by the nickel-copper mineralisation we’ve seen exposed at the surface level, and because it’s one of the few areas with this potential that remains largely unexplored,” he said.
“Prior to the transaction a private prospecting group had identified more than two kilometres of mafic rock with nickel and copper-rich material over a 600-metre strike length.
“Since then, we have carried out additional geological mapping and believe the mafic intrusion could be more than six kilometres 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.”
Wyloo has recently completed an aerial electromagnetic survey (VTEM) 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, Northern Ontario, and the West Raglan joint venture with Orford Mining Corporation in Nunavik, Quebec.