Noranda options Jonpol property

Noranda Exploration, a unit of Noranda (TSE), has taken an option on a Mexican property held by Jonpol Explorations (TSE) and T & H Resources (TSE).

The property, located in the state of Sonora, hosts a zone of gold and silver mineralization amenable to open pit mining.

Noranda can earn a 51% interest in the property by spending US$700,000 and paying the junior partners US$200,000. An additional US$2-million payment will increase Noranda’s interest to 71%.