Business
Eurocontrol and Sable Announce Sale of Resource Properties to Eurocontrol and Eurocontrol Change of Business
Toronto, Ontario--(Newsfile Corp. - January 25, 2019) - Eurocontrol Technics Group Inc. (TSXV:...
About this update from Sable Resources Ltd.
[{"type":"text","content":"Eurocontrol and Sable Announce Sale of Resource Properties to Eurocontrol and Eurocontrol Change of BusinessToronto, Ontario--(Newsfile Corp. - January 25, 2019) - Eurocontrol Technics Group Inc. (TSXV: EUO) (OTCQB: EUCTF) (\"Eurocontrol\") and Sable Resources Ltd. (TSXV: SAE) (\"Sable\") are pleased to announce that they have entered into an asset purchase agreement (the \"Purchase Agreement\") dated January 24, 2019, pursuant to which Eurocontrol has agreed to acquire Sable's mineral resource properties located in the Province of British Columbia and certain related assets (the \"B.C. Properties\") all as further set forth therein (the \"Transaction\"). The completion of the Transaction is subject to regulatory approval and certain other conditions as described below. The B.C. PropertiesThe B.C. Properties consist of several early to advanced stage projects. The Toodoggone projects include the past producing Baker Gold/Silver Project; the Shasta Mine and Baker mill infrastructure and equipment; the Chappelle (Baker and Multinational Mines) Property; the Mets Lease and the Bot Property. South-central B.C. projects include the Tulox Property, the WCGG Properties, and the Spences Bridge Regional Program. Upon completion of the Transaction, Eurocontrol would commence carrying on business as a mineral resource exploration company, initially focused on advancing the exploration of the Baker (Toodoggone) Gold/Silver Project. Following completion of the Transaction, Sable will be focusing its exploration on its various projects located in Latin America.Baker and Multinational MinesThe Baker Project is located in the Toodoggone region of the Omineca Mining Division, 430 km northwest of Prince George, British Columbia. The Baker Project is situated 35 km northwest of the former Kemess South open pit gold-copper mine and consists of 54 mineral claims, and two mining leases covering 6,601 hectares of land that encompass the past-producing Dupont-Baker 'A' and Multinational 'B' underground gold-silver mines and the past-producing Shasta open pit/underground gold-silver mine, and the Baker mill and tailings storage facility.Shasta Mine & Baker Infrastructure and EquipmentThe Shasta Mine is located 9 km east from Sable's processing and camp facilities. Production began in 1989 and has been operated by Sable intermittently until 2012 when...