A joint venture agreement between WisCan Resources (TSE) and Noranda (TSE) to explore the Goodman North and South, Reef and Enterprise projects in Wisconsin has been terminated.
WisCan was formed just over a year ago to pursue gold and base metal exploration opportunities along the Rhinelander-Ladysmith greenstone belt in northern Wisconsin. The junior had the right to earn a 50% interest in three of Noranda’s properties by spending US$7.5 million before Oct. 25, 1995. But drilling during the 1991-92 season returned subeconomic concentrations of copper and zinc, WisCan says. The company maintains its properties holdings in Canada.
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