Markets

UPDATE: Habanero Resources Significantly Increases Land Position in Quebec; Shrs Up 7% Today, Edge Away From Yr Lows

Habanero Resources Inc. (HAO.TO), which closed yesterday at its then 50 day and 200 day SMA of 7 cents but nearer to a year low of 5 cents, has edged up today after announcing that it has increased its land position by approximately 11,000 acres on its 100% owned Grande-Vallee North Aluminous Clay Prospect.

Habanero now has approximately 6,700 contiguous hectacres (approximately 16,500 acres). This prospect directly borders to the north Orbite Aluminae Inc.'s (ORT-A.V) 6,441-hectare Grande-Vallee property, the site of an aluminous clay deposit located 32 km northeast of Murdochville, Quebec. According to Orbite's website, "A NI 43-101 compliant technical report on the disclosure of information relating to mineral projects in Canada indicates that the clay deposit at the Grande-Vallee property contains, conservatively estimating a density of 2 tonnes per cubic metre, 800 million to 1 billion tonnes of "indicated mineral resources" in the first 100 metres depth of the Marin sector alone. The property is strategically located near several deepwater ports and across the St. Lawrence River from the province's major aluminum smelters."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos