Randsburg Set to Acquire Interest in Tungsten Project

Randsburg International Gold Corporation (TSXV:RGZ) announced it has signed a Memorandum of Understanding to acquire a 90% interest in the Pokiok tungsten project.

As quoted in the press release:

The project is located approximately 40 kilometres south-west of Fredericton, New Brunswick. The Pokiok Settlement Project is prospective for tungsten, antimony and gold.

The MOU gives Randsburg the right to acquire a 90% interest subject to a 2% Net Smelter Royalty (“NSR”) in 30 claims comprising approximately 1700 acres. The Project claims are contiguous to the former Lake George Antimony Mine which was in production from 1970 to 1989 and was the largest producer of antimony in North America during its operation.

Click here to read the Randsburg International Gold Corporation (TSXV:RGZ) press release.