The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Evrim Resources Corp. April 27 said it has signed an agreement with Paget Minerals Corp. to acquire the Ball Creek project, an early-stage exploration project in northwestern British Columbia considered prospective for copper-gold-molybdenum porphyry and epithermal gold-silver deposits.
"The project is central to the Galore Creek and Schaft Creek deposits to the west and the Red Chris Mine to the northeast," said Evrim President and CEO Paddy Nicol.
The Ball Creek porphyry system contains at least four distinct mineralized zones.
Past drilling at the Main zone has cut 231 meters grading 0.21 percent copper and 0.54 grams per metric ton gold.
Evrim said there is significant potential to expand the area of mineralization to the south.
Two other porphyry prospects and three epithermal systems identified at Ball Creek have limited exploration.
Evrim Resources is prospect generator with a number of exploration projects in northwestern Mexico.
To acquire full ownership of Ball Creek, Evrim has agreed to pay Paget C$150,000 upon closing the agreement; issue 1.25 million Evrim shares, or cash equivalent, in stages; and pay Paget a percentage of payments received as part of any future partnership agreements reached on the property.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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