Kintavar Exploration has announced the acquisition of a 100 percent interest in 17 mining claims located in Quebec.

Kintavar Exploration (TSXV:KTR) has announced the acquisition of a 100 percent interest in 17 mining claims located in Quebec, pursuant to an arm’s length mining claims purchase and transfer agreement between Kintavar and several prospectors, in consideration of $10,000, 40,000 shares and 100,000 warrants, each warrant entitling the holder to acquire one Share at a price of C$0.37 until July 20, 2020.

According to Kintavar, the claims are divided into 2 properties, the Wabash property in the Parent region with 6 Claims and the Baie Johan Beetz property in the Havre-Saint-Pierre region with 11 Claims. The Wabash claims are subject to a 0.25 percent net smelter return royalty. In addition to the acquisition of the claims, Kintavar proceeded with staking additional 120 claims in the Wabash property and 30 claims in the Baie Johan Beetz property.

President and CEO of Kintavar, Kiril Mugerman said:

“The Mitchi property has provided us with a lot of geological information since its discovery in 2017. We have used that knowledge and the historical data to identify two regions in Quebec with similar signatures. In addition, the Wabash property has an indication of a cobalt enrichment on top of the copper mineralization based on historical lake sediment surveys in the area. Knowing that stratiform copper deposits contain cobalt in the DRC, it is an important vector to be followed up on in future work. We will begin with airborne geophysical survey in the coming months before moving forward with a surface exploration program.”

Click here to read the full Kintavar Exploration (TSXV:KTR) press release.