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News Breaks
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November 5, 2009
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| 08:33 EDT |  | PAL |
| theflyonthewall.com: | North American Palladium acquires Harricana North Property from Diagnos | | North American Palladium has signed an agreement with Diagnos to acquire the Harricana North Property located in Quebec's Abitibi region north-north-west of its wholly-owned Sleeping Giant mine and mill. The Harricana North Property, which offers excellent potential for gold mineralization, consists of 133 non-contiguous claims and covers a surface area of approximately 7,490 hectares. NAP will acquire a 100% interest in the property in exchange for a payment of $20,000 upon closing, and granting Diagnos a 2% NSR over the acquired property. "When we acquired the Sleeping Giant gold mine earlier this year, one of our strategic objectives was to develop a regional presence that would leverage Sleeping Giant's milling facilities," said William J. Biggar, NAP's President and Chief Executive Officer. "This acquisition is consistent with that objective, and is part our ongoing vision to build our gold division to 250,000 ounces of annual production." :theflyonthewall.com |
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