Business
DeepRock Minerals Expands Land Package in Romania By 461%
VANCOUVER, CANADA – TheNewswire - September 1, 2021 - DeepRock Minerals Inc. (the “Company” or “DeepRock”) (CSE:DEEP) (CNSX:DEEP.CN) is pleased to announce the
About this update from Allied Critical Metals Inc.
[{"type":"text","content":"VANCOUVER, CANADA – TheNewswire - September 1, 2021 - DeepRock Minerals Inc. (the “Company” or “DeepRock”) (CSE:DEEP) (CNSX:DEEP.CN) is pleased to announce the Company has entered into a purchase agreement to acquire a 100% interest in a prospective exploration property located in Romania’s northern Apuseni Mountains and approximately 5 km NE from the Company’s Zapozilor Polymetallic Gold Project. This expansion will increase DeepRock’s land position in Romania from 764 hectares to 3,528 hectares (461%). Google Earth – Plan View This land package also represents a significant gain in resource exploration upside potential for DeepRock, with both properties hosting significant reported gold-bearing mineral showings and historical underground workings with advanced development projects. The purchase agreement’s key terms for DeepRock to acquire 100% right, title and ownership interest in the property and exploration license include: Cash payment of $275,000 CAD on signing; Issuance of 9 million common shares of the Company at a deemed price of $0.08 per common share to the Vendor when the exploration license is granted to DeepRock or its subsidiary; Bonus shares - issuance of an additional 9 million common shares of the Company at a deemed price of $0.08 per common share to the Vendor upon the acceptance for filing of an independent resource estimate of no less than one million ounces of gold with a minimum cut-off grade of 1 gpt in accordance with NI 43-101; 2% Net Smelter Royalty (“NSR”) payable to the Vendor whereby DeepRock can purchase or buy back each half (or 1%) of NSR for one million CAD. No third-party finder fees are applicable to the above. “After completing our restructuring 6 months ago, we have strategically increased our land positions in 2 key areas, first in New Brunswick from 270 to 3,070 hectares, and now in Romania to over 3,500 hectares. We believe we have built a solid foundation for strong exploration upside potential once drills start turning.” commented, Andrew Lee, CEO of DeepRock. Corporately, DeepRock is pleased to announce the appointment of Mr. Keith Margetson, CPA as the Company’s new CFO. Mr. Margetson qualified as a chartered accountant in 1975 and has had his own firm since 1992. He has been in public accounting for over four decades, both as an auditor and in providi...