Chesterfield Resources PLC - copper and gold explorer in Cyprus and in Labrador, Canada - Canadian exploration company Pacton Gold Inc cancels planned acquisition of the Labrador-based Adeline copper exploration project from Chesterfield Resources, which the latter had originally announced in October.
"This is in spite of the fact that investor interest in the Adeline project, as solicited by Pacton, has been robust. Further, Pacton's technical team determined high prospectivity at Adeline and had a thorough plan to explore in 2023 and beyond," Chesterfield says.
The company adds that it hopes for an alternative buyer.
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By Tom Budszus, Alliance News reporter
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Chesterfield R. (CHF)