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GGX Gold Announces Purchase of Proprietary Mobile Processing Plant for Gold Drop Property Historic Gold Mining Camp Greenwood BC
VANCOUVER, BC / ACCESSWIRE / June 29, 2017 / GGX Gold Corp. ( TSXV: GGX ) (the " Company "...
About this update from Ggx Gold Corp.
[{"type":"text","content":"GGX Gold Announces Purchase of Proprietary Mobile Processing Plant for Gold Drop Property Historic Gold Mining Camp Greenwood BCVANCOUVER, BC / ACCESSWIRE / June 29, 2017 / GGX Gold Corp. (TSXV: GGX) (the \"Company\" or \"GGX\") is pleased to announce amended terms of its asset purchase agreement (the \"Amended Agreement\") with Munroe Materials Inc. (\"Munroe\"), a private Manitoba corporation.\nTo view an image of some of the equipment, please click on the following link: http://www.accesswire.com/uploads/17411_ggximage1.jpg\nPursuant to the Amended Agreement, Munroe and the Company agreed to reduce the purchase price of the Assets (defined below) from $250,000 to $200,000 and for the remaining $150,000 due ($50,000 paid to date) under the Amended Agreement to be paid by the Company through the issuance of 750,000 common shares at a deemed price of $0.20 per common share.\nAssets to be Acquired \nThe assets to be acquired from Munroe include a processing plant, equipment and related assets (the \"Assets\"). The equipment consists of a proprietary mobile ore sampler involving a unique process for onsite collecting, reducing, and concentrating minerals from host rock. This mobile platform enables the miner to perform bulk sample testing directly at the mine site, or on a promising mineralized outcrop. The system can be modulated for speed and can process up to 5 tons of ore per hour. This process curtails the need for a tailings pond as all water is recycled.\nGGX intends to use the Assets for exploration on its Gold Drop Property to help in determining the economic potential of multiple quartz veins throughout the property.\nTo view an image of other pieces of the equipment, please click on the following link: http://www.accesswire.com/uploads/17411_ggximage2.jpg\n\nAbout Munroe Materials Inc.\nMunroe is a private Manitoba company in the business of developing innovative mineral processing plants. Munroe has certain intellectual property related to the processing of ore. GGX and Munroe intend to explore the possibility of patenting this process.\nGGX expects to complete the purchase of the Assets on or before the end of July 2017. Further details of the Assets will be provided when GGX completes such purchase. There can be no assurance that the acquisition of the Assets will be completed as proposed or at all. See the Company's...