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General Gold Resources Enters into Option Agreement to Acquire up to 100% of BC Copper Property
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2021) - General Gold Resources Inc. (CSE: GGLD) (FSE: 7S5) (the "Company") is pleased to announce that i
About this update from General Copper Gold Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 20, 2021) - General Gold Resources Inc. (CSE: GGLD) (FSE: 7S5) (the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Agreement\") with Deep Blue Trading Inc. to acquire up to a 100% interest in and to the copper-gold Topley Richfield property (the \"Property\"). The Property is located in the Omineca Mining Division of British Columbia, and is 60km ESE from Smithers. It is accessible by road, power runs through the western side of the Property and the village of Topley is less than 10km away. The Property covers 2,313 hectares and is comprised of seven contiguous claims. Previous exploration has focussed on expanding the known mineralization. General will use the data from historic work to inform the current drilling program. \"General is very excited to add Topley to our portfolio with a view to following up on previous drilling. Analysis of the historic drilling appears to indicate an epithermal system and our plan is to test the identified fold axis which sits quite near surface. With the excellent infrastructure and our local logistics partners, we will be able to make significant progress quickly and affordably,\" said Michelle Gahagan, President. Pursuant to the Agreement, the Company can commence the earn-in to acquire a 50.1% interest in the Property through the issuance of 2 million common shares and a cash payment of $200,000 on or before 10 days after signing the Agreement (the \"Effective Date\"). Thereafter, should the Company wish to keep the option to earn a 50.1% interest in the Property in good standing, it may, in its sole discretion: issue 2 million common shares on or before 12 months from the Effective Date and thereafter should the Company wish to complete the earn-in and acquire the 50.1% interest in the Property, the Company would issue 2 million common shares on or before 24 months from the Effective Date (the \"First Option Earn-In Deadline\"). The Company can acquire an additional 16.9% interest in the Property by issuing 2 million common shares within 45 days after the First Option Earn-In Deadline (the \"Second Option Earn-In Deadline\"). Following the exercise of the second option, the Company can earn a final 33% interest in the Property (for a total interest of 100%) by issuing 4 million common shares and m...