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The company said it had issued a notice to the underlying vendor of the 766 hectares that it will immediately exercise its option for a 100 percent interest by paying a balance of C$60,000
Garibaldi Resources (TSXV:GGI) has announced that with three drill rigs currently building out the Nickel Mountain magmatic nickel-copper-rich sulphide discovery in the heart of Northwest BC’s Eskay camp, company directors have approved an accelerated buyout for a 100 percent interest in 766 strategic hectares subject to a 2 percent NSR royalty.
The company added that no NSR royalty is applicable to the balance of the Nickel Mountain project (an additional 5,534 hectares) covering a multi-kilometer-long prospective nickel sulphide trend and owned 100 percent by Garibaldi.
As quoted in the press release:
Garibaldi has issued a notice to the underlying vendor of the 766 hectares that it will immediately exercise its option for a 100 percent interest by paying a balance of C$60,000 and issuing 550,000 shares of the company’s common stock.
Meanwhile, Garibaldi eagerly anticipates providing shareholders with an exploration update including initial assay results from the ongoing 2018 program during the week of September 17.
Click here to read the full Garibaldi Resources (TSXV:GGI) press release.
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