HPX has advised that they will fund $1.2 million of a proposed drill program on the South Voisey’s Bay (SVB) nickel-copper-cobalt Project with affiliate Fjordland Exploration (TSX-V: FEX). This funding is considered to be the initial pre-paid consideration against an opportunity to sole fund up to $7.4 million to earn an assignment of a 65% interest in the SVB Project. Such assignment is conditional on Fjordland fulfilling its obligations pursuant to a letter of intent (“LOI”) with Commander Resources Ltd.(“Commander”) whereby Fjordland can earn a 100% interest in the SVB Project. Fjordland has to date earned a 35% interest.
Drill targets for the 2018 program consist of numerous high quality untested conductors which were developed by a combination of the reprocessing of an immense database of historic geophysical surveys aided by improved geological insights derived from the 2017 drilling.
For more information please see Fjordland’s news release.