TSX-V-listed Kenorland Minerals has advised its joint venture (JV) partner Sumitomo Metal Mining Canada has withdrawn from the earn-in and JV exploration agreement related to the O’Sullivan gold project in Quebec.
The termination of the JV is effective from May 9, following which Kenorland will retain 100% ownership of the project.
The O’Sullivan project covers 27 534 ha of mineral tenure within the Abitibi greenstone belt along the Casa Berardi Deformation Zone, which hosts various gold deposits and a past-producing mine.
Kenorland still holds a 4% net smelter return royalty on Sumitomo’s Frotet project, in Quebec, which is a greenfield discovery made by the two companies in 2020.
