Nippon Dragon Resources Forms Joint Venture with Val d’Or Resources
Published: August 16, 2017 |
Nippon Dragon Resources Inc. has formed a joint-venture partnership agreement with an American company, Val d’Or Resources Corporation.
Management personnel of Val d’Or Resources Corporation have recently completed their due diligence by an on-site visit of both properties owned by Nippon, Denain and Rocmec 1. They also have firsthand knowledge of Nippon’s exclusive and patented thermal fragmentation mining process as it is currently employed on one of their projects in Arizona; including the cost savings, efficiency and ease of use that the technology offers as well as the safety features for its mining personnel.
As a result of the joint-venture, a new entity Rocmec Gold Inc., will be created, of which Nippon will hold a 51 percent interest and Val d’Or Resources Corporation a 49 percent interest. Once completed, Rocmec Gold Inc. will hold both the Denain and Rocmec 1 properties, additional mining acquisitions in Quebec, and a percentage ownership of the patents related to the thermal fragmentation mining process. Val d’Or Resources Corporation is currently in the process of securing the requisite funds totaling CDN$16,200,000.
“I am extremely pleased with the positive synergy that exists between Val d’Or Resources and Nippon Dragon Resources as a result of Donald Brisebois’s leadership, experience and professionalism,” said Michael Pilgrim, president of Val d`Or Resources Corporation.
“On behalf of myself, management and our board of directors, we would all like to publicly express our sincere gratitude to both Mike and Boyd for their steadfast commitment and unwavering support of Nippon and our thermal mining process since day one of our relationship,” said Donald Brisebois, president & CEO of Nippon Dragon Resources Inc.
Use of proceeds:
• Re-activate the Rocmec 1 project, including paying off its first rank mortgage and a drill programme to further increase its mining resources with an updated 43-101
• Exploration drill programme on the Denain project and secure a 43-101
• Acquisition of additional mining properties in the Val d’Or region of Quebec
• Acquire a percentage ownership of the patents related to the thermal fragmentation mining process
About Nippon Dragon Resources
Nippon is active in the exploration and the development of gold resources in Quebec. The corporation holds a gold property with resources recognized in accordance with NI43-101 and also an exclusive license for the Thermal Fragmentation mining method.
The company’s growth strategy is based on: the development of its gold deposits with the objective of producing revenue from its operations, Increasing the value of its mining assets by prioritizing the exploration targets, and the commercialization and employment of its thermal fragmentation technology.
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