Coronation Minerals announces the expiration of the Wellgreen Project Optionadmin
November 1, 2008 Filed Under: Copper Mining, Nickel Mining
Coronation Minerals Inc. announces that due to current market conditions the Company is not proceeding with the acquisition of the Wellgreen Project from Northern Platinum.
The Company is maintaining the 100% owned Rory Claim consisting of 265 staked claims located contiguous and south of the Wellgreen leased ground. This group encompassed an airborne magnetic survey and discovered an electromagnetic anomaly measuring approximately 3.5 km x 2.5 km zone. Ground truth geological investigation showed the zone is mineralized with initial prospecting samples running as high as 3.96% Cu and elevated Ni values ranging from 65 – 193 ppm. Gossan/Skarn, and floats of massive sulfides were reported by the Company’s geological team.
Coronation Minerals Inc. is a Canadian based resource company whose focus is to explore for and develop mineral deposits throughout the Coronation Gulf Region, Nunavut Territory, and Yukon Territory, Canada.
Information is available on Coronation’s website at www.coronationminerals.com