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Be the first with the news that moves the market- Gold Hunter Resources (HUNT) has acquired full interest in multiple properties in Newfoundland
- The British Columbia-based resource exploration company has signed two separate arms length agreements for eight different mineral projects
- This includes the highly-prospective Rambler and Tilt Cove Properties
- It also has the option to acquire a 100-percent-interest in one additional property in the area
- Gold Hunter Resources is unchanged, trading at $0.38 at 3:01 p.m. EST
Gold Hunter Resources (HUNT) has acquired full interest in multiple properties in Newfoundland.
The British Columbia-based resource exploration company has signed two separate arms-length agreements for eight different mineral projects.
That includes the highly-prospective Rambler and Tilt Cove Properties.
The company is acquiring a 100-percent-interest in all eight properties, all of which are located in Newfoundland.
It also has the option to acquire a 100-percent-interest in one additional property in the area.
The first cash-and-stock deal with Fair Haven Resources is worth approximately C$1.77 million. Fair Haven will retain a 2-percent net smelter return royalty.
A second cash-and-stock deal with Unity Resources is worth approximately $5.6 million and also includes required minimal expenditure amounts.
“The two main acquisitions, the Rambler properties, and the Tilt Cove properties represent significant exploration discovery potential for the Company with little to no modern exploration activity having been completed. Both properties have outcropping massive sulphide mineralization at surface located on the property that have yet to be drill tested in modern times. The properties are located under the headframe of previous and currently producing mines. The Company intends to confirm a drilling program in Q2 2022,” said President and CEO Richard Macy.
Gold Hunter Resources is unchanged, trading at $0.38 at 3:01 p.m. EST.
