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.