Business
Golden Birch Resources Outlines Future Exploration Strategy
TIMMINS, ON / ACCESSWIRE / March 5, 2020 / Golden Birch Resources Inc. (CSE:GBRX) ("Golden Birch" or the "Company") is pleased to announce the following key obj
About this update from Loyalist Exploration Limited
[{"type":"text","content":" TIMMINS, ON / ACCESSWIRE / March 5, 2020 / Golden Birch Resources Inc. (CSE:GBRX) (\"Golden Birch\" or the \"Company\") is pleased to announce the following key objectives and exploration strategy for the Company. Highlights: The key commodities targeted by the Company are copper and gold; The exploration strategy is to discover porphyry copper-gold deposits; Golden Birch holds an option to acquire up to an 85% interest in the Keveri Project, located 200 kilometres southeast of Port Moresby, Papua New Guinea (\"PNG\"); The Keveri Project is strategically located on the important Papuan Mobile Fold Belt, host to known copper and gold porphyry deposits; PNG has a stable government and competitive, transparent, and workable mining regulation; Golden Birch intends to further evaluate the already identified copper-gold targets within the Keveri Project with ongoing exploration work including drill testing during 2020 and beyond; and The Company's board and management have extensive experience in the exploration and mining industry. Alan Martin, President & Executive Director of Golden Birch commented; \"We are excited to be exploring in the Papuan Mobile Fold Belt of PNG, in line with our strategy to discover porphyry copper-gold deposits. The strategic location of the Keveri Project within this rich belt of rocks provides the Company with the opportunity to discover a porphyry copper-gold deposit that could deliver value to its shareholders\". Additional Information Golden Birch has the right to earn 85% of the Keveri Project by way of a legally binding Term Sheet Agreement (\"Agreement\") with Papuan Minerals Pty Ltd (the \"Vendor\") dated August 24, 2018. This Agreement provides Golden Birch the right to acquire up to an 85% interest in Papuan Minerals Ltd (\"PML\") the holder of the exploration licences, over a six year period from March 2, 2020, the listing date of the Company. In order to acquire the 85% interest in PML, the Company needs to complete 13,000 metres of drilling and making total payments to the Vendor of AUD$5.7 million including AUD$0.9 million, paid in annual installments over the six year period and the balance of the payments in either shares or cash at the election of the Company. Additional information regarding the Keveri Project and the Agreement with the Vendor may be found in the NI 43-101 Technical...