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Revelo Resources (TSXV:RVL) has signed an agreement to purchase the Reprado property in Chile from Teck Resources Chile Limitada, a subsidiary of Teck Resources (TSX:TCK.B).
Revelo Resources (TSXV:RVL) has signed an agreement to purchase the Reprado property in Chile from Teck Resources Chile Limitada, a subsidiary of Teck Resources (TSX:TCK.B).
As quoted in the press release:
The Reprado property is being acquired for 1,000,000 Revelo common shares and warrants as well as a retained NSR royalty
Revelo president and CEO, Tim Beale, said:
Reprado is an exciting new project to add to Revelo’s portfolio in Chile, and is located less than 10Km north of Revelo’s San Guillermo property, and directly along trend of the emerging Amancaya (Austral Gold) – San Guillermo low sulphidation epithermal vein district. Teck’s previous exploration at Reprado, including trenching and drilling of 21 shallow diamond holes totalling approximately 1,955m and 4 shallow RC holes totalling approximately 800m, defined at least 7 distinct, mineralised epithermal quartz veins over an area of approximately 3Km x 1Km. This acquisition consolidates further Revelo’s position in this emerging epithermal vein district that bears geological similarities with Revelo´s multi-target Las Pampas and Loro low sulphidation vein projects located approximately 80Km to the north, and to the important multi-million ounce vein mining district at El Peñón (Yamana Gold) located some 115Km to the north-northeast.
Click here for the full press release.