WMC passes on Vulcain deal

WMC Resources (WMC-N) will not enter negotiations to acquire an interest in the Vulcain nickel-copper property in western Quebec, following an examination of exploration data from Matamec Explorations (MAT-V).

Matamec and WMC had signed a confidentiality agreement in late April covering the property, 165 km southeast of Val d’Or. WMC had 60 days to examine exploration data and enter exclusive negotiations for a deal.

Matamec will continue exploring the property, and plans to begin a mapping and age-dating program on the mafic and ultramafic host rocks of the nickel deposit.