Business
RJK Explorations Options 15 Km Long Zinc-Copper Belt in Quebec, Returns Maude Lake Property
Kirkland Lake, Ontario--(Newsfile Corp. - July 25, 2017) - RJK Explorations Ltd. (TSXV: RJX....
About this update from Rjk Explorations Ltd. Class A
[{"type":"text","content":"RJK Explorations Options 15 Km Long Zinc-Copper Belt in Quebec, Returns Maude Lake PropertyKirkland Lake, Ontario--(Newsfile Corp. - July 25, 2017) - RJK Explorations Ltd. (TSXV: RJX.A) (\"RJK\") is pleased to announce that the Company has been able to option the Normetal East Property, located in Northwestern, Quebec. The Normetal East Property is located within the Abitibi belt, approximately 10 km south-east of the former Normetal Mine, a base-metal orebody where more than 10 million tonnes of ore were produced between 1937 to 1975 grading 5.41% Zn, 2.24% Cu, 44.45 g/t Ag and .526 g/t Au.The Normetal East Property is located in Clermont Township, roughly 15 kilometers north of the city of La Sarre and is accessible via paved Highway 393. It is approximately 3,800 hectares in size and covers approximately 15 kilometers of the \"mine sequence\" which contains the Normetal Deformation Zone in the Normetal Volcanic Complex. The Mine Sequence is composed, at the base, of mafic volcanic rock surmounted by an alternating series of slightly overturned, south facing mafic and intermediate to felsic volcanic units forming a thick volcanic pile trending roughly NW/SE. Extensive sedimentary horizon occurs at the top of the sequence.RJK's area of immediate interest on this property is a Phase-Induced Polarization geophysical anomaly located just south of a chain of airborne EM anomalies. The Company will complete additional geophysical surveying to further enhance and define the anomaly prior to drill testing in September of this year.For the Company to earn a 100% interest in the property, subject to a royalty to the vendors, the option arrangement calls for a cash payment of $65,000. In addition, RJK will be funding additional Phase IP geophysical surveying as well as further claim staking (now completed) for a total commitment to the vendors of $100,000. RJK will have until December 15, 2017 to complete a program of diamond drilling and/or any other work deemed necessary to evaluate the current area of interest. Should the results of this first phase of work be encouraging, the Company will have the right to continue with the option agreement by making a second cash payment of $100,000 and issuing 1,000,000 shares of the Company. To complete the option, the Company must make 4 remaining cash payments of $100,000 and 1,000,000 shar...