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Wangton Capital Corp. Enters into Definitive Agreement to Acquire TAOR d.o.o., Holder of Two Exploration Licenses Covering 100sq km in the Historic Lead Zinc Mining Region of Raska, Serbia
Vancouver, British Columbia--(Newsfile Corp. - September 25, 2017) - Wangton Capital Corp. (TS...
About this update from Wangton Capital Corp.
[{"type":"text","content":"Wangton Capital Corp. Enters into Definitive Agreement to Acquire TAOR d.o.o., Holder of Two Exploration Licenses Covering 100sq km in the Historic Lead Zinc Mining Region of Raska, SerbiaVancouver, British Columbia--(Newsfile Corp. - September 25, 2017) - Wangton Capital Corp. (TSXV: WT.H) (\"Wangton\" or the \"Company\") is pleased to announce that, further to its news release dated September 5, 2017, it has entered into a definitive agreement (the \"Share Purchase Agreement\") effective September 22, 2017 with TAOR d.o.o, (\"TAOR\"), TAOR's sole shareholder, Balkan Minerals Limited and Dr. Radomir Vukcevic, the sole beneficial owner of Balkan Minerals Limited, to acquire all of the issued and outstanding shares of TAOR, a Serbian company (the \"Transaction\"). The Transaction will constitute the Company's Qualifying Transaction pursuant to TSX Venture Exchange (the \"Exchange\") Policy 2.4 — Capital Pool Companies.About TAOR d.o.o.TAOR holds two geological exploration licenses from the Ministry of Mining and Energy of the Republic of Serbia (the \"Properties\"). The two exploration properties cover approximately 100 square kilometres and are located in the vicinity of the historical lead-zinc-silver (Pb-Zn, Ag) mining area of Raska, Serbia.The Raska mineralized district features numerous Pb-Zn, and Ag occurrences and several larger hydrothermal Pb-Zn deposits in Oligo-Miocene-aged volcanic rocks from the Kremici prospects on the north, through the Sastavci and Kizevak Mines (the \"Mines\"), followed by the Kozija Glava, Karadak and Rudnica prospects and finally with the Lipovica prospect in the south. Only some of the Kremici Pb-Zn prospects and the Pb-Zn Lipovica prospect are on the Raska Property. The Lipovica prospect consists of at least 4 subparallel polymetallic veins and has received limited diamond drilling and underground development by previous explorers. Historical drilling shows veins with intercept lengths typically 0.5 to 2.0 m, however, there are four instances where the intercept lengths ranged between 3.5 m and 14.50 m. Grades are typically 1.0-2.0% Pb and 2-3% Zn, however, there are two holes with veins of exceptional grade. One historical hole reported 14.50 m grading 12.25% Pb, 0.89% Zn and 158 g/t Ag. A second hole on a different vein reported 4.80 m grading 23.99% Pb, 18.34% Zn and 270 g/t Ag and ...