El Nino options Bathurst projects from Falconbridge

摘要

El Nino Ventures (ELN-V, ELNOF-O) is blowing into New Brunswick's Bathurst base metal camp by optioning a large land package from area producer Falconbridge (FAL-T, FAL-N). The deal has El Nino able to earn up to a 50 percent interest in almost 1,100 sq. km, including permitted areas, by spending 5 million dollars over two years. Once its interest reaches 50 percent, El Nino will have 90 days to select specific project areas in which it would be able increase its interest up to 75 percent with additional staged spending of up to 5 million dollars over five years.