Juniors Canspar Resources (CSZ-M) and Pro-Or Mining Resources (POI-M) are joining forces to explore and develop the Menarik chromite-platinum-palladium project in the James Bay region of northern Quebec.
More than $2.5 million has been spent on the property, which is reported to host a chromite reserve estimated at 30 million tonnes with an average grade of 8.2% Cr2O3, plus associated platinoids. The property also has potential for hosting zones enriched in copper, nickel and platinoids outside the chrome beds.
Canspar views the property as “geologically exceptional” and plans a significant program for next year. The junior will invest $500,000 and issue to Pro-Or 100,000 of its shares over the next two years. Canspar will operate the project and assume work to a level of $2.5 million, after which the partners will contribute equally.
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