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Damara Announces Assignment of Proposed Option to Acquire 75% Interest in the Princeton Property
(TheNewswire) TheNewswire - October 19, 2020 - DAMARA GOLD CORP. (TSX...
About this update from Bronco Resources Corp.
[{"type":"text","content":"Damara Announces Assignment of Proposed Option to Acquire 75% Interest in the Princeton Property\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire -\n \n \n October 19, 2020 -\n \n \n DAMARA GOLD CORP. (TSXV:DMR) (\"\n \n \n Damara\n \n \n \" or the\n\"\n \n \n Company\n \n \n \"),\n \n \n is pleased to announce that it\nhas entered into an assignment and assumption agreement (the\n\"\n \n \n Assignment\nAgreement\n \n \n ) with Canarc Resources Corp.\n(\"\n \n \n Canarc\n \n \n \") pursuant to which Canarc has assigned (the\n\"\n \n \n Assignment\n \n \n \") all of its rights, obligations, interests and assets\nwith respect to a property option agreement dated December 20, 2018\nand amended on June 3, 2019 (the \"\n \n \n Option Agreement\n \n \n \") between Canarc, Universal Copper Ltd.\n(\"\n \n \n Universal\n \n \n \") and Sydney Wilson (\"\n \n \n Wilson\n \n \n \") to\nacquire a 75% interest (the \"\n \n \n Option\n \n \n \") in\ncertain mineral claims of Universal and Wilson (the \"\n \n \n Princeton Property\n \n \n \"), subject to the Universal NSR and Wilson NSR (as\ndefined herein).\n \n \n \n \n The Princeton Property is comprised of 22 mineral\nclaims covering approximately 8,955 hectares located approximately\n35km south of Princeton\n \n \n .\n \n \n \n \n About the Princeton Property:\n \n \n \n \n The Princeton Property is road accessible and lies\nwithin a highly mineralized belt, 18 km south of the Copper Mountain\nporphyry copper deposits and 70 km south of the Elk gold deposit. The\nearliest recorded exploration on the property was in 2008 with the\ndiscovery of gold-bearing quartz boulders in newly built logging\nroads. Since that time, the Princeton Property has been explored with\nsoil geochemical surveys, prospecting and geological mapping, an\nairborne magnetic survey, trenching and rock sampling.\n \n \n \n \n The Princeton Property is being explored for orogenic\nor mesothermal-style, vein-hosted gold mineralization. Historical\nrock-chip sampling identified gold-bearing, low-sulfide quartz veins\nwithin the Wilson Gold Zone over a roughly 375 m diameter area. An\nadditional, isolated area of gold-bearing quartz-vein float lies 2 km\nto the north but has not yet been rigorously explored\n \n \n \n \n 1\n \n \n \n \n .\n \n \n \n \n Historical trenching in 2018\n \n \n \n \n 2\n \n \n \n \n a...