Chesterfield Resources plc has reached a deal to complete the sale of the Adeline copper project in Labrador, eastern Canada. OPPORTUNITIES Under the original March 2023 agreement, Sterling Metals will acquire Adeline in exchange for a combination of cash and shares in Sterling. Part payment was issued to Chesterfield in 2023 with the balance due […]
Tag: Adeline – Labrador – Canada
Chesterfield mulls new investments
Chesterfield Resources plc is considering investing in a “new area of activity” as its optioned partner begins 2,000 metre drilling at the Adeline copper project in Labrador, eastern Canada. EXPLORATION The company, with projects in Cyprus and Canada, last year underwent a change of management, appointed a new executive chairman and began cutting costs. Its […]
Potential Adeline buyer sets exploration budget
Chesterfield Resources plc noted its potential purchaser of the Adeline copper project has earmarked C$2m (£1.18m) for summer exploration on the asset in Labrador, eastern Canada. ACTIVITIES Sterling Metals aims for a 2,500 metre drill campaign in addition to the C$500,000 (£296,000) airborne survey planned over the licence area. The finance will come from the […]
Chesterfield signs new deal to sell Adeline
Chesterfield Resources plc has signed a new agreement to sell full ownership and rights over its Adeline copper project in Canada. TERMS The company had previously signed a conditional deal with Pacton Gold Inc which withdrew because of the “immense size” of the project. Today’s announced agreement will see Sterling Metals purchase an option for […]
Chesterfield potential Adeline buyer withdraws
Chesterfield Resources plc plans to look for an alternative buyer for its Canadian copper project after its potential purchaser withdrew from a conditional acquisition. SCALE The company said that Pacton Gold Inc. did not wish to proceed with the deal on the previous terms, which would have seen Chesterfield receive C$1.25m (£804,000) and C$300,000 (£193,000) for […]
Chesterfield progresses sale of Adeline
Chesterfield Resources plc said it was making progress “on all fronts” in the conditional sale of its 100% interest in the Adeline copper licences in the Labrador region of eastern Canada. AGREEMENT The company purchased the assets from Altius Minerals in May 2021 before increasing the licence area the following month. In October 2022, Chesterfield […]