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Nippon Dragon strikes JV with private investors to advance Denain gold project

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Nippon Dragon strikes JV with private investors to advance Denain gold project

Nippon Dragon Resources Inc. said Aug. 31 that it entered into a joint venture agreement with a group of private investors to develop the company's Denain gold property in Quebec.

As part of the deal, the investors must provide C$3 million to acquire a majority interest in the project. The transaction is non-dilutive to Nippon's shareholders.

The joint venture envisions driving a 400-meter exploration decline to evaluate the grades from surface to 60 meters, and to perform a bulk sample with Nippon's exclusive and patented thermal fragmentation mining process.