- District Metals (DMX) has acquired a 100 per cent interest in the polymetallic Gruvberget Property from Explora Mineral AB
- A heliborne magnetic and electromagnetic survey is planned for the Gruvberget Property before the end of the year
- District Metals has issued 1,000,000 common shares to Explora, paid a cash consideration of $20,000 and granted a 2.5 per cent net smelter royalty
- District Metals is a Canada-based mineral exploration company that is engaged in the business of acquiring, exploring, and evaluating natural resource properties
- District Metals Corp. (DMX) opened trading at C$0.24 per share
District Metals (DMX) has acquired a 100 per cent interest in the polymetallic Gruvberget Property from Explora Mineral AB.
Garrett Ainsworth, President & CEO of District, commented on the acquisition.
“The Gruvberget Property is an excellent addition to our robust portfolio of prospective polymetallic properties in the prolific Bergslagen District. The North and South zones at the Gruvberget Property comprise a one kilometer long mineralized trend with significant historic polymetallic drill intercepts that is open in most directions and provides compelling walk up drill targets. A detailed heliborne magnetic and electromagnetic survey (SkyTEM 312HP) is planned to commence at the Gruvberget Property before the end of the year, which will provide us will important geophysical data to follow up via mapping, prospecting, and geochemical sampling.”
District Metals has issued 1,000,000 common shares to Explora, paid a cash consideration of $20,000 and granted a 2.5 per cent net smelter royalty on the Gruvberget Property. The company has committed to incur $500,000 of eligible work expenditures on the Gruvberget Property within two years.
District Metals is a Canada-based mineral exploration company that is engaged in the business of acquiring, exploring, and evaluating natural resource properties.
District Metals Corp. (DMX) opened trading at C$0.24 per share.
