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Goldbrook Positioned for Nickel Production in Quebec
Goldbrook Ventures Inc. (TSX VENTURE: GBK) is successfully expanding its assets in the world-class polymetallic Raglan Nickel District in the Cape Smith belt of northern Quebec. The acquisition of a controlling interest in Canadian Royalties Inc. (TSX: CZZ) by the Jien Canada Mining Ltd. joint venture, which Goldbrook has a 25% interest, greatly increases its position along a mineralized trend and secures an interest in the fully permitted and construction ready Nunavik Nickel Project.
Under the terms of the joint venture, Goldbrook is not required to provide capital for either the acquisition or construction of the project. Jien International Investment Ltd., their joint venture partner, is responsible for fully funding both the Canadian Royalties acquisition and construction of the Nunavik Nickel Project. The acquisition of Canadian Royalties in addition to their joint venture on existing Goldbrook properties substantially adds to control of the district, with highly prospective exploration targets and a construction ready project, with no funding requirements except out of future cash flow.”
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