Mr. Nick Taylor reports
SOFTROCK ANNOUNCES ACQUISITION OF OPTION ON COBALT CLAIMS
Softrock Minerals Ltd. has entered into an agreement granting it an option to acquire, over a two-year period, a 100-per-cent interest, subject to a 2-per-cent net smelter override, in 135 mineral claims (cells) encompassing approximately 2,763 hectares in the Dagny Lake area of Ontario, 80 kilometres northeast of Kenora.
The claims (cells) are in one solid block and lie in the English River subprovince belt which hosts the Werner-Rex Lake cobalt deposit 200 km west.
The aggregate consideration is $48,000 in cash spread over two years and the issuance of 400,000 common shares of the company.
Softrock intends, starting next summer, to conduct a magnetic survey of the properties for ultramafic rock as well as some surface sampling. The acquisition of this cobalt property fits into the company's strategy of assembling a battery mineral portfolio of Ontario cobalt claims, Alberta petrolithium permits and Manitoba spodumene claims.
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