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Molycor Gold Corp.(TSXV:MOR) announced the optioning of its Nevada Gold property. The Company entered into an option agreement with Pilot Gold Inc. The agreement allows Pilot Gold to earn an initial 60% of the Griffon Gold property and an additional 10% after the development of expenses over a four year period.
As quoted in the press release:
The option agreement signed by Molycor allows Pilot Gold to earn an initial 60% by paying Molycor a total of $US119,636 cash, issuing 120,000 of its common shares and incurring $US750,000 in exploration and development expenses over a four year period with the right to earn an additional 10% in the Griffon Property.
Click here to read the Molycor Gold Corp. (TSXV:MOR) press release
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