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Commander Options Baffin Gold Property Nunavut to Kivalliq Energy
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2017) - Commander Resources Ltd. (TSXV:...
About this update from Valore Metals Corp.
[{"type":"text","content":"Commander Options Baffin Gold Property Nunavut to Kivalliq EnergyVancouver, British Columbia--(Newsfile Corp. - May 8, 2017) - Commander Resources Ltd. (TSXV: CMD) (\"Commander\") is pleased to announce that it has entered into an option agreement with Kivalliq Energy Corporation (TSXV: KIV) (\"Kivalliq\") allowing Kivalliq to acquire a 100% interest in Commander's Baffin Island Gold Property in Nunavut Territory, Canada. Commander has also entered into a data sales agreement with Kivalliq with respect to regional geoscience data held by Commander pertaining to additional lands held 100% by Kivalliq. In addition to other consideration further outlined below Commander will retain a 0.25% to 0.5% NSR on the grounds optioned from Commander and will be granted a 0.25% NSR on Kivalliq's regional lands. The combined area of the Baffin Gold Property is 4089.8 square kilometres. Kivalliq's new Baffin Gold Property (\"Property\") is comprised of consolidated mineral tenure located approximately 230 kilometres southwest of the community of Clyde River on Baffin Island, in the Qikiqtani region of Nunavut. The Property comprises fifteen prospecting permits, six crown mineral claims and two Mineral Exploration Agreements (MEA) with Nunavut Tunngavik Inc. (NTI) on Inuit Owned Land parcel BI-35. The property totals 408,981.6 hectares and covers 160 kilometres of the Foxe Fold belt on central Baffin Island, one of the largest undeveloped greenstone-iron formation gold belts in Nunavut, Canada. This represents a district-scale land package covering an entire Proterozoic gold belt with geological and structural similarities to multi-million ounce gold mines in Nunavut (i.e. Meadowbank, Lupin) as well as the prolific Homestake mine in South Dakota. Previous exploration has identified numerous prospects along 140 kilometres of strike length, with high-grade gold occurring in multiple settings: silicate and sulphide iron formation; shear zones and quartz veins hosted in granodiorite, meta-volcanics and meta-sediments. Property Highlights:Large land position controlling an entire gold belt Covers a strongly mineralized gold system hosting known high-grade gold occurrences in multiple geological settings: iron formation, shear zones, quartz veins, metasediments and metavolcanics Over $25 million* of exploration data and extensive geoscience databases ...