- CAVU Mining (CAVU) has signed an agreement to option a 51 per cent interest in the Star copper-gold porphyry project in northern BC from Prosper Gold Corp
- The company purchased 49 per cent per cent of the Star Project on April 20, 2022
- With this, it now has the opportunity to own 100 per cent of the asset which is mineralized to a depth of 700 m below surface
- The Star Project is in the territory of the Tahltan and Taku River Tlingit First Nations
- CAVU Mining Corp. is a mining company
- CAVU Mining Corp. (CAVU) opened trading at $0.37 per share
CAVU Mining (CAVU) has agreed to option the remaining 51 per cent interest in the Star copper-gold porphyry project from Prosper Gold Corp.
The Star Project is located in northern British Columbia.
The company purchased 49 per cent of the Star Project on April 20, and now has a path to own 100 per cent of the asset. The Star Project is located in the traditional territory of the Tahltan and Taku River Tlingit First Nations.
Over 13,000 m of modern drilling has been completed within the 6,829 Ha claim block.
The Star Project is fully permitted for advanced exploration with 200 drill sites until 2026. A data verification program will be planned in the near future. CAVU will make payments of 1.25 M shares and $1.155 M over two years.
“The signing of the definitive agreement gives us a path towards full ownership of the Star Project and allows us to start working towards a comprehensive exploration program,” said Jaap Verbaas, CEO of CAVU.
“This fully permitted and drill-ready porphyry project is a great addition to our portfolio and we are looking forward to starting exploration,” he added.
The Star Project is a copper-gold porphyry of 6,829 Ha. The project is located about 50 km of the community of Telegraph Creek.
The main Star target is mineralized to a depth of 700 m below surface and contains a preserved supergene enriched zone.
There are also 4 additional targets on the Star project that are known to host copper mineralization but are not drilled to the same extent. CAVU is compiling and analyzing all existing data in order to plan a comprehensive exploration program.
CAVU Mining Corp. is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector.
CAVU Mining Corp. (CAVU) opened trading at $0.37 per share.
