Business
LOGAN RESOURCES LTD. - OPTION AGREEMENT COMPLETED WITH RIDGEMONT CAPITAL
LOGAN RESOURCES LTD. - OPTION AGREEMENT COMPLETED WITH RIDGEMONT CAPITAL
About this update from Intrepid Metals Corp.
[{"type":"text","content":"\n\n\n\n Nov. 29, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nVANCOUVER, Nov. 29 /CNW/ - Logan Resources Ltd. (TSX-V:LGR) ("Logan") is pleased to announce that Ridgemont Iron Ore Corp. (TSX-V:RDG) ("Ridgemont"), formerly Ridgemont Capital Corp., has closed its qualifying transaction (the "Transaction") that was announced in a news release on July 28, 2010.\nThe Transaction was completed through an option agreement (the "Option Agreement"), dated July 27, 2010, with Logan pursuant to which Logan granted Ridgemont an option to acquire a minimum of 50% (the "First Option") and a maximum of 75% (the "Second Option") of its interest in the Redford property (the "Redford Property"). The Redford Property is comprised of 26 claims covering 10,821 hectares and is located 22 kilometres northeast of Ucluelet, in the Alberni Mining Division, Vancouver Island, British Columbia.\nTo exercise the First Option, thereby earning a 50% interest in and to the Redford Property, Ridgemont is required to:\n\n\n >\n\n\nUpon exercising the First Option, Ridgemont may exercise the Second Option, thereby earning an additional 25% interest in and to the Property, by completing certain obligations as set out in the Option Agreement and as more fully described in Ridgemont's Filing Statement.\n\nLogan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. The C...