LATIN AMERICA — Joutel in Cuban negotiations

Toronto-based Joutel Resources (TSE) has signed a letter of intent with the government of Cuba to acquire four tracts of land each covering about 1,600 sq. km.

While negotiations with the Cuban government are still in the early stages, Joutel says it hopes to establish a 3-year exploration program to evaluate and explore portions of four large island arc volcanic belts. “These belts have undergone limited to no exploration in the past and have the potential to host significant base and precious metal deposits,” said Joutel Chairman Hugh Harbinson.

As indicated by recent rumors of a nickel-refining deal between Sherritt Gordon (TSE) and the Cuban government, nickel is Cuba’s most developed and important mineral resource. The republic also has significant copper, gold, manganese and chromium deposits.