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LAURION Acquires the Twin Falls Orogenic Occurrence Contiguous to Ishkoday Project
LAURION Acquires the Twin Falls Orogenic Occurrence Contiguous to Ishkoday Project Cana...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"\n \n \n \n LAURION Acquires the Twin Falls Orogenic Occurrence Contiguous to Ishkoday Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Oct. 11, 2023\n \n \n /CNW/ -\n \n LAURION Mineral Exploration Inc.\n \n (TSXV: LME) and (OTCPINK: LMEFF)\n \n (\"LAURION\" or the \"Corporation\")\n \n is very pleased to announce that it has expanded its flagship Ishkoday Project by acquiring mineral exploration claims (the \"\n \n Acquisition\n \n \") by way of a purchase agreement between the Corporation and two arms-length parties (the \"\n \n Vendors\n \n \"), dated\n \n October 10, 2023\n \n . Specifically, LAURION has acquired 53 mineral claims located in the Irwin, Pifher and Sandra Townships within the Greenstone area of Northwestern Ontario (collectively, the \"\n \n Property\n \n \"). The Property, which hosts an orogenic gold occurrence, is 10.46 km\n \n 2\n \n (1,046 hectares) and is located in the Onaman-Tashota Greenstone Belt (the \"\n \n OTGB\n \n \"), approximately 10 km north of the Trans-Canada Highway (Highway 11) and 28 km northeast of the\n \n Town of Beardmore\n \n .\n \n \n As consideration for the Property, LAURION has agreed to issue to the Vendors an aggregate of142,857 common shares in the capital of the Corporation (\"\n \n Shares\n \n \") at a deemed price of\n \n $0.70\n \n per Share, representing an aggregate purchase price of\n \n $100,000\n \n . The Corporation has also granted to the Vendors a net smelter returns royalty of 1.0% on gold and base metal production from the Property (the \"\n \n NSR Royalty\n \n \"). The Corporation shall have the exclusive and irrevocable right and option to purchase, at any time, 0.5% of the NSR Royalty by paying\n \n $500,000\n \n and giving notice to the Vendors to that effect.\n \n \n The Shares issued to acquire the Property will be subject to a four-month hold from the date of issue.\n \n \n The Acquisition is an arm's length transaction for the purposes of the policies of the TSX Venture Exchange (the \"\n \n TSXV...