KUGLUKTUK, NU The Muskox Intrusion on the Nunavut-NWT border is the catalyst for a joint venture between owner MUSKOX MINERALS and ANGLO AMERICAN EXPLORATION (CANADA). If the arrangement proceeds as planned, Anglo can earn a 51% interest in the property by performing $11.5-million-worth of exploration work by the end of 2007. A bankable feasibility study would earn it an extra 19%, and if Anglo arranges production financing for both companies, it will garner another 5% interest.
The Muskox property is known to host copper-nickel-precious metal mineralization in several environments, including sulphide horizons and stratiform chromitite layers. Muskox employees have developed an extensive database integrating geological, geophysical and geochemical data for the project. The drill targets and mineralization model may be examined at www.muskoxminerals.com, or contact Muskox’s new president and CEO, Roger Morton, at 780-413-3479.