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Albert Mining Inc. Options Seven Claims from its Chapais Project to Everton Resources Inc.
(via TheNewswire) Ottawa, Ontario / The Newswire / December 12, 2017 - Albert Mining I...
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[{"type":"text","content":"Albert Mining Inc. Options Seven Claims from its Chapais Project to Everton Resources Inc.(via TheNewswire)\n \n \nOttawa, Ontario / The Newswire / December 12, 2017 - Albert Mining Inc. (the \"Company\" or \"Albert\") (TSX-V: AIIM), an exploration mining company and a leader in the use of artificial intelligence and advanced knowledge-extraction techniques in the mining sector, has signed an option agreement with Everton Resources Inc. pursuant to which Everton may acquire up to a 75-per-cent undivided interest in part of its 100% owned Chapais (7 of the 36 claims) property located in the Chapais mining district, close to the former Perry and Springer mines, Quebec. These mines produced from 1953 to 1991, respectively, 386,046,860 pounds of copper and 790,049 ounces of gold, and 654,771,400 pounds of copper and 25,677 ounces of gold (MRN).\n\n\n \nAs part of the agreement, Everton will drill (650 metres) and validate two underexplored copper targets. These were generated in 2010 by the Artificial Intelligence CARDS system from Megatem geophysical surveying and topographical data. \n\n\n \nMoreover, a recent compilation and interpretation of the Perry and Springer underground mines by the MRN (Chibougamau office) has identified new gold targets on the remaining claims from its Chapais property which are not under option to Everton. Albert is planning to drill the targeted structure which correspond to significant historic gold-copper mineralized intersections in historical drill holes: 1.47 g/t Au over 4.51 min DDH BO-07 (GM-45042); 0.41 g/t Au over 1.92 m in DDH KIS-48 (GM-38475); 9.94 g/t Au and 0.14 % Cu over 0.27 m, and 0.68 g/t Au over 1.8m in DDH KIS-22 (GM-38475); and 1.02 g/t Au and 0.76% Cu over 2.29m, in DDH KIS-45 (GM-38475). Additional drilling will be carried out on the targets from which positive results are reported. \n\n\n \nOption Agreement:\n\n\n \n\n\n--Everton will either pay $30,000 or grant 1,000,000 common shares to Albert in the first 30 days following the signature of the agreement; \n\n\n\n--In the first option to earn 50% interest: Everton, in the first year following the signature of the agreement, will spend $120,000 in exploration; \n\n\n\n--In the second option to earn an additional 25% interest: Everton, in the second year following the signature of this agreement, must spend $125,000 in explorati...