Chinese investors approach Millstream Mines about Potter Copper-Zinc-Cobalt project in Ontario

Millstream Mines (TSX-V: MLM, FSE: NJD) has received an approach from as yet unnamed “mainland Chinese investors” seeking to participate in the company’s Potter Base Metal Mine Property in north-eastern Ontario.

Millstream did not disclose much information, other than to say that it was in discussions that may lead to either “an outright purchase of the property” or an earn-in agreement. “An intermediation contract has been recently signed with these Agents,” the company also reported.

The Potter Mine Property is host to an indicated resource of 3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt, 11.1 ppm silver, and 127.5 ppb gold along with an inferred resource of 2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm cobalt, 8.7 ppm silver, and 81.7 ppb gold.  http://www.proactiveinvestors.com/companies/news/3489/chinese-investors-approach-millstream-mines-about-potter-copper-zinc-cobalt-project-in-ontario-3489.html