New operator for potential diamond project

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Olivut Resources Ltd. has inked an agreement to carry out $1,200,000 worth of work exploring a large magnetic anomaly in the Horton Project, close to 100 kilometres south of Paulatuk, in exchange for a 50-per-cent interest. Olivut will also pay $200,000 to Talmora Diamond Inc., the previous operator and owner. According to Talmora, its deep...