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Engineer Gold Mines Ltd. Announces Property Purchase Agreement with C2C Gold Corp.
(TheNewswire) Vancouver, British Columbia - TheNewswire - Decembe...
About this update from Engineer Gold Mines Ltd.
[{"type":"text","content":"Engineer Gold Mines Ltd. Announces Property Purchase Agreement with C2C Gold Corp.\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, British\nColumbia\n \n \n -\n \n \n TheNewswire\n-\n \n \n December\n \n \n 03\n \n \n , 2020 - Engineer Gold Mines Ltd. (the “Company” or\n“Engineer”) (TSXV:EAU) is pleased to announce\n \n \n that it has entered into a property purchase agreement dated\nNovember 26, 2020 (the “Purchase Agreement”) with C2C Gold Corp.\n(“\n \n \n C2C\n \n \n ”) (formerly Taku Gold Corp.) to acquire (the\n“Acquisition”) a 100% interest in forty-one mineral tenures (the\n“Property”) situated within the Atlin Mining Division of British\nColumbia.\n \n \n \n \n The closing of the Acquisition is subject to the\napproval of TSX Venture Exchange. Under the Purchase Agreement,\nEngineer is to provide the following aggregate consideration to C2C at\nclosing:\n \n \n \n \n \n \n a)\n \n \n Payment of $100,000 on or\nbefore July 31, 2020 which receipt has been acknowledged;\n \n \n \n \n \n \n b)\n \n Payment of $100,000 on or before February\n26, 2021;\n \n \n \n \n \n c)\n \n \n Issuance of 2,000,000 common\nshares of Engineer within five days of TSX Venture Exchange\n(“TSXV”) approval; and\n \n \n \n \n \n \n d)\n \n Payment of 1% net smelter return royalty on\nthe property.\n \n \n \n \n \n The 1,070 hectare Tag property covers the\n \n \n \n \n 025 or Main\nzone\n \n \n , which contains, as defined by the National\nInstrument (“NI”) 43-101 Standards for Disclosure for Mineral\nProjects, an historical mineral resource estimate including 250,000\ntonnes of 2.97 g/t Au (cut) and 12.09 g/t Ag (cut), indicated and\n400,000 tonnes of 2.98 g/t Au (cut) and 9.91 g/t Ag (cut) inferred,\nusing a minimum core length of 2.0 meters and a cut-off grade of 3.0\ng/t gold equivalent (combined gold and silver values), calculated on\nsilver to gold ratio of 59.927. The resource is taken from a technical\nreport filed on SEDAR entitled “Technical Report on Resource\nEstimates for the Tag Property, Northern British Columbia”, prepared\nfor CZM Capital Corporation\n \n \n by Reddick\nConsulting Inc. and dated December 29, 2009.\n \n \n \n \n Engineer Gold Mines’ president, Andrew H. Rees stated\nȁ...