Business
Tajiri Enters Option Agreement to Acquire Three Gold Projects in Guyana, South America with Total Area of 164 Square Kilometres
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 2, 2017) - Tajiri Resources Corp. (the "Company") (TSX VENTURE:TAJ) is pleased to report that, subject to TSX
About this update from Tajiri Resources Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 2, 2017) - Tajiri Resources Corp. (the \"Company\") (TSX VENTURE:TAJ) is pleased to report that, subject to TSX Venture Exchange approval, it has entered into an option agreement with the Pereira Group to acquire: Three Projects totalling 164 km2 Frenchman's Creek Mine 109 km2, Winter's Mine 32 km2 & Kanaimapu 23 km2 Due diligence sampling by the Company at Frenchman's Creek returned 1,270 g/t & 859 g/t Au from two separate artisanal bedrock workings All Projects are associated with prolific alluvial workings indicating potential for significant primary gold source areas All Projects contain historic bedrock artisanal workings which provide near drill ready targets Good access to all Projects, which are situated within several kilometres of the paved Georgetown - Brazil Road. Low entry cost with no exploration commitment and total payments in first 3 years of USD$130,000 and issue of 1.5 million shares. Over the past several months Tajiri has been assessing projects and negotiating with Guyanese land holders to acquire projects and expand the Company's portfolio of gold tenements in Guyana. Following a strategy to acquire tenements which cover persistent structures, associated with gold mineralisation, over regional scale strike lengths, which include previously undrilled artisinal bedrock workings. Management is pleased to present the first of these acquisitions being the Frenchman's Creek, Winters Mine and Kanaimapu Projects. The three projects are all situated close to the main road connecting Guyana's capital Georgetown to Brazil and the projects are located between 150km and 260km south of Georgetown (see Figure 1). Acquisition cost of the three Projects will be over five years paid as follows: USD$30,000 upon signing, USD$50,000 on or before the first anniversary, USD$50,000 on or before the second anniversary, USD$425,000 on or before the third anniversary, and $USD1,000,000 on or before the fourth anniversary. The Company will also issue 1.5 million shares over five years to the vendors in the amounts of 500,000 upon signing, 500,000 on or before the first anniversary, 750,000 on or before the second anniversary, and 1,000,000 on or before the fourth year. The agreement provide Tajiri the right to acquire 100% interest in all three Projects while the Vendors will ...