The TSX Venture Exchange has accepted for filing documentation relating to an option agreement dated Oct. 18, 2017, between Nevada Zinc Corp. and Rockcliff Copper Corp., a TSX Venture Exchange-listed company and an arm's-length party. Pursuant to the agreement, the company shall have the option to earn a 70-per-cent interest in the MacBride zinc property, which contains a high-grade MacBride zinc deposit located north of Leaf Rapids, Man.
In consideration, the company shall pay an aggregate of $200,000 over a three-year period, issue 200,000 common shares and incur aggregate exploration expenditures of $2.5-million over a five-year period.
Further, the company shall have the option to acquire an additional 10-per-cent interest in the property (for a total 80-per-cent interest) upon earning the 70-per-cent interest and paying the optioner $2-million.
For more information, refer to the company's news release dated Oct. 23, 2017.
© 2024 Canjex Publishing Ltd. All rights reserved.