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Tamerlane Ventures Inc. (TSXV:TAM) announced it has closed the transaction which allows the Company to acquire up to 100% of the Indian Mountain Lake property from Panarc Resources Ltd.. As previously announced, the Indian Mountain Lake property is located 10 km from McLeod Bay at the East Arm of Great Slave Lake in the Northwest Territories, Canada. It consists of 8 claims comprising approximately 15,562 acres.
Tamerlane Ventures Inc. (TSXV:TAM) announced it has closed the transaction which allows the Company to acquire up to 100% of the Indian Mountain Lake property from Panarc Resources Ltd.. As previously announced, the Indian Mountain Lake property is located 10 km from McLeod Bay at the East Arm of Great Slave Lake in the Northwest Territories, Canada. It consists of 8 claims comprising approximately 15,562 acres.
As quoted in the press release:
The agreement signed today also includes the 7,231 acres in the Susu Lake volcanic belt, located 7 kilometers southeast of the Indian Mountain Lake Property, and 7,128 acres of the North Zinc zone, which is located on the south side of Tindale Lake and is contiguous with the Indian Mountain Lake claims.
Tamerlane will issue 500,000 common shares of the Company to Global Resource Fund, pursuant to terms of an existing debt agreement to gain the consent for the acquisition of the new properties. All other terms of the Indian Mountain Lake property acquisition completed today are identical to those described in the news releases issued by Tamerlane on January 9 and January 16, 2012.
Click here to read the Tamerlane Ventures Inc. (TSXV:TAM) press release
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