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Currie Rose Resources Receives TSX-V Approval of Option Deal over Historic Rossland Gold and Silver Project
Toronto, Ontario--(Newsfile Corp. - May 16, 2018) - Currie Rose Resources Inc. (TSXV: CUI) ("C...
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[{"type":"text","content":"Currie Rose Resources Receives TSX-V Approval of Option Deal over Historic Rossland Gold and Silver ProjectToronto, Ontario--(Newsfile Corp. - May 16, 2018) - Currie Rose Resources Inc. (TSXV: CUI) (\"Currie Rose\" or the \"Company\") is pleased to announce that the TSX Venture Exchange has approved the Company's transaction to acquire the Rossland gold and silver project (the \"Rossland Project\"), located approximately 35km south-west of Castlegar, British Columbia.The Exchange has accepted all filing documentation including a National Instrument 43-101 Technical Report (the \"Technical Report\") on the Rossland Project and has approved the issuance of common shares relating to the Company's option agreement with 0704723 BC Ltd for the acquisition of 100% of the GNB property and option agreement with 0811662 BC Ltd for the acquisition of 100% of the COE property. The GNB property and the COE properties together comprise the Rossland Project.Michael Griffiths, Currie's President and CEO, commented: \"The Rossland Project covers a large proportion of the Rossland Mining Camp which surrounds the former Le Roi, War Eagle and Centre Star Gold mines. This is an advanced brownfields play with little modern exploration having been undertaken due to previous fragmented ownership. The Company recognises the potential both along strike from the former producing mines as well as other underexplored vein gold targets.\" The Rossland Project covers approximately 2,000 Ha of the Rossland Mining Camp that produced more than 2.7 million ounces of gold, 3.5 million ounces of silver and 71 tonnes of copper between 1894 and 1941 and ranks as the third largest lode gold camp in British Columbia. Historical records identify significant molybdenite, zinc and cobalt mineralisation within the Camp and the Company plans to investigate these metals as part of its exploration activity and overall district scale focus. Under the terms of the two option agreements, Currie Rose has the right to acquire 100% of the Rossland Project from the vendors via a 3-stage, four-year option (see below for details). On completion of the Feasibility Study and the payment obligations, the Company will own 100% of the Rossland Project and will grant separately, to each vendor, a 2% Net Smelter Return (NSR) with Currie Rose having an option to purchase from each vendor one-...