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Option Agreement to Acquire Gold Properties in ...
Option Agreement to Acquire Gold Properties in ....
About this update from Panther Metals Plc
[{"type":"text","content":"\n \n12 July 2018\n\nPANTHER METALS PLC\n\n(“Panther Metals†or the “Companyâ€)\n\nOPTION AGREEMENT TO ACQUIRE GOLD EXPLORATION PROPERTIES IN CANADA\n\nPANTHER METALS ANNOUNCES SIGNING OF OPTION AGREEMENT TO ACQUIRE PORTFOLIO OF GROWTH STAGE GOLD EXPLORATION PROPERTIES IN ONTARIO\n\nPanther Metals PLC “(Panther†or the “Companyâ€) (NEX:PALM), the NEX Exchange Growth Market natural resource investing company is pleased to announce the signing of an option agreement to acquire a portfolio of prospective growth stage exploration gold and volcanogenic massive sulphide (‘VMS’) style properties in Ontario, Canada.\n\nThe Bear Lake Project is a gold enriched VMS style deposit that has a limited history of exploration in a region that has established infrastructure and nearby mine development and mine operation in Ontario Canada, one of the world’s most accessible and politically safe jurisdictions.\n\nHighlights:\n\n\n\nBear Lake Project (the “Projectâ€) consists of a package of three contiguous early stage gold and base metal exploration tenements (Little Bear Lake, Bear Lake & Schreiber Pyramid) located in north-western Ontario, Canada.\n\n\n\n\n\nThe Bear Lake Project area consists a total of 69 Claim Units equivalent to 12.14km2 located in the Schreiber-Hemlo Greenstone Belt, 95 km west of Hemlo and 155 km east of Thunder Bay.\n\n\n\nThe Project lies upon the Hemlo-Schreiber Greenstone Belt and is centred approximately 4km north of the town of Schreiber, 15km SE of the former Winston Lake Zinc Mine.\n\n\n\nThe Project is prospective for both lode gold and VMS style mineralisation.\n\n\n\nHistorical exploration has yielded results from bulk sampling at the Schreiber Pyramid averaging 17.6g/t gold and from drilling up to 19.6% zinc and 4.6% copper, from near surface. At Little Bear channel sampling yielded assays up to 53.7g/t gold.\n\n\n\nThe total potential consideration for the acquisition of Bear Lake Project is C$133,000 (or £76,715) comprising C$33,000 in cash and the issue of Panther Metals ordinary shares with a value of C$100,000 (or £57,440 to be issued at a fixed price of £0.003/share or 19,146,666 new ordinary PALM shares).\n\n\n\nOption Payment of C$30,000 (consisting C$15,000 cash and C$15,000 shares (the “Option Sharesâ€) to be issued at a fixed price of £0.003/share or 2,872,000 new o...