Business
Zimtu Capital Corp. Vends Doctors Point Claims to Strata Geodata Services Ltd.
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 Doctors Point Claims to Strata Geodata Services Ltd.NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / February 23, 2023 / Zimtu Capital Corp. (TSXv:ZC; FSE:ZCT1) (the \"Company\" or \"Zimtu\") announces that it has entered into an agreement with Strata Geodata Services Ltd. (\"Strata\") to sell six (6) mineral claims in the Harrison Lake area in the New Westminster District of Southwest British Columbia (BC) for $20,000 cash and 100,000 shares in a private company.Doctors Point Purchase AgreementThe Company has entered into a purchase agreement (\"Harrison Lake Agreement\") with Strata, whereby the Company will sell a 100% undivided interest in six (6) mineral claims currently held by Zimtu, known as the Doctors Point Claims, near the town of Harrison Lake in southwest BC. Under the terms of the Doctors Point Agreement, Strata will acquire the Doctors Point claims for a cash payment of $20,000, of which $5,000 is payable immediately upon closing, with three (3) additional quarterly payments of $5,000, and the issuance of 100,000 common shares of a private non-reporting issuer to Zimtu. The Doctors Point Agreement is subject to acceptance by the TSX Venture Exchange. Common shares of the Company issued under the Doctors Point Agreement are from a private company.The Doctors Point claims were recently acquired by Zimtu from the estate of David Heyman, as part of a much larger package of mineral claims.The Doctors Point claims are situated on the western bank of Harrison Lake, approximately 55 kilometres from the town of Harrison. The claims are accessible by a well-maintained forestry service road which also provides access to the BC Hydro Trio Creek generation site also located within the claims area.There are two dominant styles of mineralization at Doctors Point; stratabound volcanogenic sulphides and gold- and silver-hosting quartz veins.The quartz veins are long, narrow, and gently dip at 10-35 degrees away from the edge of dioritic pluton margins. Up to five plutons have been observed on site and are thought to be smaller upwellings of magma from a major intrusion at depth. These veins are vuggy and contain sulphides of which pyrite and arsenopyrite are the most common. The veins have been observed in both surface road cuts ...