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Caribou Silver Copper Project Acquired by Norseman Silver
(TheNewswire) Vancouver, British Columbia – TheNewswire - September 12...
About this update from Fitzroy Minerals Inc
[{"type":"text","content":"Caribou Silver Copper Project Acquired by Norseman Silver\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n September 12, 2022\n \n \n – Norseman Silver Inc. (TSXV:NOC) (\n \n \n OTC\n \n \n :NOCSF) (“\n \n \n Norseman\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) is pleased to announce that the Company has completed\nall of its obligations under the option agreement and now has acquired\nthe Caribou Silver- Copper project.\n \n \n \n A total of 148 rock outcrop and float samples were collected at the\nCaribou property. An outcrop sample from Caribou West, graded 42% Cu\nand 384 ppm Ag. From the total samples collected to date, 31 samples\nor 20% have Cu contents of 1% and above. Although most of these were\nfrom the NH area, significant numbers were also taken from the Caribou\nWest.\n \n \n Caribou consists 3 concessions with a total area of approximately\n3,567 and is located 36 km west of Smithers , British Columbia,\nCanada. Detailed grid soil geochemical sampling was carried out within\ntwo separate blocks to cover in detail the NH and the Caribou West\ntargets.\n \n \n The soil geochemistry defined areas with elevated values for Cu, Ag,\nPb and Zn within these two targets. The positively anomalous values\nshow a NE-SW trend in the NH area and an E-W trend at Caribou West.\nResults to date have identified targets approximately 30-hectare and\n40-hectare zones in the Caribou West and NH.\n \n \n Ground IP and Magnetometer surveys were also carried within a section\nof the soil sampling block at the NH area.\n \n Six (6)\n \n survey lines spaced 100 meters apart and with a total length of\n6.3 kms. were covered by the survey. The IP work employed a\npole-dipole array and along the same survey lines, total magnetic\nreadings were taken at 5 to 10-meter intervals.\n \n \n \n Caribou was optioned for $80k cash, 2.75m shares and\n$225k in expenditures. The NSR is 2% was given to Cloudbreak. Half can\nbe bought back for $1m before production. Other half is $5m to\nextinguish the NSR altogether.\n \n \n \n The Company also announces that it will not be proceeding on the New\nMoon project to enable to focus on Norseman’s core projects that\nappear to have great leverage and provide more cost-effective\...