Business
Tana Amends Golden Triangle King - Double T Property Agreements
Vancouver, British Columbia--(Newsfile Corp. - September 7, 2023) - Tana Resources Corp. (CSE: TA...
About this update from Tana Resources Corp.
[{"type":"text","content":"Tana Amends Golden Triangle King - Double T Property AgreementsVancouver, British Columbia--(Newsfile Corp. - September 7, 2023) - Tana Resources Corp. (CSE: TANA) (\"TANA\" or the \"Company\") is pleased to report its has amended the terms of its agreements on the 443 hectare Double T project (the \"Property\") located approximately 20 kilometers north of the former Snip Gold Mine in northwest BC's Golden Triangle.Tana has negotiated amendments to the cash payments and exploration work commitments with the vendors of the Company's Double T Property and has assigned the payment and work commitments for the adjoining King Property to Goldrea Resources Corp. (CSE: GOR) (\"Goldrea\") in exchange for share payments from Goldrea. As outlined in the Company's press release dated May 3, 2023 select grab gold values from 199.5 to 1.84 g/t gold from King Vein and 3 select grab samples of quartz veining in granodiorite from 49.8 to 32.1 g/t gold were reported from the King Vein prospect and select grab samples of 528 and 20.5 ppm silver, 11.6 and 3.43 percent lead and 25 and 3.53 percent zinc were reported from the North Zone prospect both of which are located within the Double T Property. Tana cautions investors select grab samples are selective by nature and are not necessarily indicative of the presence of significant mineralization on the King - Double T property.\"The historic King Vein - Mist Zone and North Zone are both located on the Double T Property and represent drill ready targets. After completion of the 2023 program, management will review the available data and make a decision regarding drill testing during the 2024 program,\" commented Tana CEO, Vic Korajian.The Double T payments of $25,000 due October 31, 2022 and a further $50,000 due October 31, 2023 have been amended to $10,000 due December 2023, an additional $15,000 due March 31, 2024, and a further $50,000 due October 31, 2024. The Double T exploration expenditure of $200,000 by October 31, 2023 has been amended to $40,000 in expenditures by October 31, 2023 and an additional $160,000 in expenditures by October 31, 2024. Based on the amended terms of the agreement Tana will need to incur a total of $360,000 on or before October 31, 2024. All other terms of the agreement remain in effect.Pursuant to an assignment agreement dated August 10, 2023, Goldrea will assume T...