Business
ZIMTU CAPITAL CORP. COMPLETES TRANSACTION FOR BLACHFORD HEAVY RARE EARTH PROPERTY, THOR LAKE AREA, NWT
Jun. 16, 2011 (Canada NewsWire Group) -- VANCOUVER, June 16, 2011 /CNW/ - Zimtu Capital Corp....
About this update from Zimtu Capital Corp.
[{"type":"text","content":"\n\n\n Jun. 16, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, June 16, 2011 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE:\n ZCT1) (the "Company" or "Zimtu") is pleased to announce that the\n Company and one of its prospecting partners have signed an agreement\n with Solace Resources Corp. (TSXv: SOR) ("Solace") whereby Solace can\n earn a 100% interest in the Blachford Rare Earth Element ("REE")\n Property located in the Northwest Territories approximately 100\n kilometres southeast of the city of Yellowknife. The property is\n contiguous to Avalon Rare Metals Inc.'s (TSX: AVL; NYSE Amex: AVL)\n ("Avalon") Thor Lake REE Project.\n\n\nFor its participation in the transaction, Zimtu will receive staged\n payments totaling C$100,000 and 1,250,000 common shares over a 18-month\n period. Zimtu's partner, 877384 Alberta Ltd. will receive cash and\n share consideration equal to that of Zimtu. The vendors will\n collectively retain a 2% Net Smelter Returns Royalty on the property;\n 1% of which can be purchased by Solace for C$1,000,000. The transaction\n is subject to acceptance by the Toronto Venture Exchange ("TSXv"). In\n conjunction with the completion of the transaction, a finder's fee will\n be payable in accordance with the policies of the TSXv.\n\n\nThe Blachford Property consists of one claim, totaling approximately\n 1,000 acres, within the north-central part of the Blachford Lake\n Intrusive Complex. The...