Business
Zimtu Capital Corp. Vends Beaverdell Claims to Grizzly Discoveries Inc.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Zimtu Capital Corp.
[{"type":"text","content":"Zimtu Capital Corp. Vends Beaverdell Claims to Grizzly Discoveries Inc.NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / February 14, 2023 / Zimtu Capital Corp. (TSXV:ZC)(FSE:ZCT1) (the \"Company\" or \"Zimtu\") announces that it has entered into an agreement with Grizzly Discoveries Inc. (TSXV:GZD) (\"Grizzly\") to sell ten mineral claims in the Beaverdell area in the Greenwood Mining District of Southeast British Columbia (BC) for $7,500 cash and issuance of 75,000 common shares of Grizzly Discoveries Inc.Beaverdell Properties Purchase AgreementThe Company has entered into a purchase agreement (\"Beaverdell Agreement\") with Grizzly Discoveries Inc. (\"Grizzly\") whereby the Company will sell a 100% undivided interest in ten (10) mineral claims currently held by Zimtu, known as the Beaverdell Claims, near the town of Beaverdell in southeast BC, adjacent to the Grizzly's Greenwood Project mineral claims. Under the terms of the Zimtu Beaverdell Agreement, Grizzly will acquire the Beaverdell Claims for a cash payment of $7,500, payable immediately, and the issuance of 75,000 common shares of Grizzly to Zimtu. The Beaverdell Agreement and the issuance of shares to Zimtu are subject to acceptance by the TSX Venture Exchange. Common shares of the Company issued under the Beaverdell Agreement will be subject to a hold period of four months and one day in accordance with the policies of the TSX Venture Exchange and securities regulation.The Beaverdell claims were recently acquired by Zimtu from the estate of David Heyman, as part of a much larger package of mineral claims. The claims exist at the south end of the historic Beaverdell silver-lead-zinc-gold (Ag[1]Pb-Zn-Au) camp. Silver production for the main Beaverdell mine about 3 km north of the mineral claims being acquired was close to 35 million ounces (Moz) of Ag with greater than 30 million pounds (Mlbs) of Zn and 25 Mlbs of lead from 1896 to 1991 (BC Government Minfile Report for 082ESW030). Several of the mineral claims being acquired exist immediately south of Troubadour Resources Inc.'s Texas Project mineral claims where they have been actively exploring high grade Ag-Au-Cu-Pb-Zn zones southwest of Beaverdell including the Doorn Zone approximately 2 km north of the Beaverdell mineral claims. The Beave...