- Benjamin Hill (BNN) enters into an option agreement with strategic metals (SMD) on the Alotta property
- This Alotta project is unique in that it is marked by a pronounced magnetic low that coincides with a strong, multi-element soil geochemical anomaly
- The core of the geochemical anomaly is enriched in copper, gold and molybdenum and measures 4 kilometres by 1 kilometre
- Seven cash payments, totalling $500,000, within five years of the execution of the agreement may be exercised
- Benjamin Hill Mining is a Canadian-listed junior gold exploration company
- Benjamin Hill Mining (BNN) is up 65 per cent, trading at C$0.16 at 11:45 am EST
Benjamin Hill Mining (BNN) and Strategic Metals (SMD) have signed an agreement for an undivided 60 per cent joint venture interest in the Alotta project.
Located in the north of Canada in the Whitehorse Mining District, Yukon Territory.
The area hosts an un-drilled porphyry prospect that is situated in a similar geological setting and in close proximity to Western Copper and Gold’s Casino Deposit.
There is uniqueness in this project in that it is marked by a pronounced magnetic low area that coincides with a strong, multi-element soil geochemical anomaly.
The core of the geochemical anomaly is enriched in copper, gold and molybdenum and measures 4 kilometres by 1 kilometre. It is surrounded by a distal halo with high lead, zinc and silver values.
There are large porphyry deposits on the property. Permitting for advanced exploration only requires an induced polarization survey prior to any drill testing.
The option may be exercised by making seven cash payments, totalling $500,000, within five years of the execution of the agreement.
In connection with the agreement, Benjamin Hill has entered into a finder’s fee agreement with William Morris-Nelson to introduce the company to the optionor.
Morris-Nelson will receive consideration for up to 300,000 common shares of the company.
Benjamin Hill Mining is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Mexico.
Benjamin Hill Mining (BNN) is up 65 per cent, trading at C$0.16 at 11:45 am EST.
