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Avante Mining Closes Option Agreement to Acquire Pipestone Awaruite Property
Vancouver, British Columbia--(Newsfile Corp. - November 28, 2023) - Avante Mining Corp.  ...
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"Avante Mining Closes Option Agreement to Acquire Pipestone Awaruite PropertyVancouver, British Columbia--(Newsfile Corp. - November 28, 2023) - Avante Mining Corp. (TSXV: AVA) (OTC Pink: ACPRF) (FSE: P210) (\"Avante\" or the \"Company\"), a Canadian nickel-focused exploration company, is pleased to announce that it has closed the previously announced option agreement dated November 7, 2023 (the \"Option Agreement\") with SSAF Collective (the \"Optionors\") and issued 500,000 common shares (\"Shares\") at a deemed price of $0.07 per Share and paid $30,000 to the Optionors. The Shares are subject to a statutory hold period of 4 months and one day from issuance in accordance with Canadian securities laws that will expire on March 24, 2024.Under the terms of the Option Agreement the Company has the right to acquire a 100% undivided legal and beneficial interest in nine (9) mineral licenses consisting of 161 mineral claims located in central Newfoundland (the \"Pipestone Project\" or the \"Property\") by making cash payments of $380,000, issuing an aggregate of 4,000,000 Shares and incurring $1,500,000 in expenditures over a period of four (4) years. The Pipestone Project consists of 161 claims encompassing 40.25 square kilometres of ground located in Newfoundland. Exploration work at the Property will start this fall/winter.Adrian Smith CEO, comments, \"We are excited to close this agreement and begin work on the Pipestone Project this year, which will increase our exposure to high quality nickel projects in Canada. Initial work at the Pipestone Project will continue to build on the Company's successful exploration in the area which includes the 2023 drilling program at the Voisey's West project where the Company expanded the area of known high-grade nickel mineralization to over 1km strike and drilling intersected 9 metres of 1.12% nickel with grades up to 2.84% Nickel and 3.28% NiEq. Further south, the Pipestone Project presents Avante with the opportunity to explore on a year-round basis targeting a bulk tonnage \"green\" nickel deposit within the extensive Newfoundland ophiolitic rocks. Awaruite nickel deposits have been legitimized with significant investments from major industry players in recent years and represent an attractive long-term supply of nickel for responsible miners to produce metals for the green e...