Business
ZIMTU CAPITAL CORP. COMPLETES TRANSACTION FOR GOELAND RARE EARTH PROPERY, MONTVIEL CARBONATITE COMPLEX, QUEBEC
Jan. 6, 2011 (Canada NewsWire Group) -- VANCOUVER, Jan. 6 /CNW/ - Zimtu Capital Corp. (TSXv: ...
About this update from Zimtu Capital Corp.
[{"type":"text","content":"\n\n\n\n Jan. 6, 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, Jan. 6 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the\n "Company" or "Zimtu") is pleased to announce that the Company and one\n of its prospecting partners have signed an agreement with Canada Gas\n Corp. (TSXv: CJC; FSE: YXEN; OTC-BB: CJCFF) ("Canada Gas") whereby\n Canada Gas can earn a 100% interest in and to the Goeland Rare Earth\n Property located 215 km north of Val d'Or in the Abitibi region of\n Quebec.\n\n\nFor its participation in the transaction, Zimtu will receive $12,500\n cash on signing and staged share payments totaling 1,250,000 common\n shares over a 36 month period.  Zimtu's partner, Glenn Griesbach will\n receive cash and share consideration equal to that of Zimtu. The\n vendors will retain a 2% Net Smelter Royalty on the properties. The\n transaction is subject to acceptance by the TSX Venture Exchange\n ("TSXv"). A finders fee in accordance with TSXv policies will be\n payable for the transaction.\n\n\nThe Goeland Property is accessible via a network of logging roads and\n consists of 47 mining claims encompassing approximately 2,585 hectares\n within and adjacent to the Montviel Carbonatite Complex. Historic\n exploration at Montviel has revealed strong potential for rare earth\n element ("REE"), niobium and phosphate mineralization.\n\n\nThe principal exploration target for the property is carbonatite hosted\n REE mi...