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KWG Resources Inc. (CSE:KWG) announced that it’s agreed to acquire the Hornby property from MacDonald Mines Exploration Ltd. (TSXV:BMK).
KWG Resources Inc. (CSE:KWG) announced that it’s agreed to acquire the Hornby property from MacDonald Mines Exploration Ltd. (TSXV:BMK). KWG will pay for the property using 4 million treasury shares.
As quoted in the press release:
The Hornby Property claims constitute an extensive holding adjoining the southerly boundary of the Big Daddy Joint Venture property immediately to the north and would effectively double the surface area available for possible future mining operations at the Big Daddy deposit and the adjoining Black Thor deposit. The property is also adjacent to the Koper Lake property to the west that contains the Black Horse chromite deposit. The westernmost claim is underlain by the Ring of Fire Intrusion, the host rock of all the chromite deposits, and as such represents an important unexplored gap. The property carries banked assessment credits exceeding $390,000 which will provide almost 10 years of tenure.
Click here to read the full KWG Resources Inc. (CSE:KWG) press release.