Canadian resource group Rockcliff Metals Corp has moved closer to buying assets from RNC Minerals' (TSE:RNX) (OTCMKTS:RNKLF) wholly owned subsidiary VMS Ventures Inc.
The assets in question are 14 properties in Snow Lake, Manitoba and now a formal purchase agreement has been signed, said RNC in a statement.
READ: RNC Minerals displaying 'Father's Day Vein' gold specimens at Tucson gem show
Rockcliff will issue 2.25 million shares to Royal Nickel.
Rockcliff has the largest junior property portfolio in the Flin Flon-Snow Lake greenstone belt -- the largest VMS (volcanogenic massive sulphide) district (copper, gold, zinc and silver) in the world and the area also contains gold mines and deposits.
RNC Minerals shares in Toronto eased 1.4% to stand at $0.71 each.
