North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Group Ten lands third Yukon PGM project

 

Last updated 9/20/2015 at Noon



Group Ten Metals Inc., formerly Duncastle Gold Corp., Sept. 14 said it has signed an agreement to earn full ownership of the Spy platinum group metal-nickel-copper property in southwestern Yukon Territory.

The 1,250-hecatre Spy property is located roughly 40 kilometers (25 miles) southeast of the company's Catalyst project that adjoins Wellgreen Platinum's Wellgreen PGE-Cu-Ni Project.

Group Ten has the option to earn a 100 percent interest in Spy by issuing 1.05 million shares over three years.

The vendors retain a three percent net smelter return royalty with a buy-down to one percent for C$1.5 million before the start of production.

Group Ten Metals now holds three projects - Spy, Ultra and Catalyst - in the Kluane Ultramafic Belt of southwestern Yukon.

Author Bio

Shane Lasley, Publisher

Over his more than 13 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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