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Fancamp Acquires Option on Bonanza Grade Gold Quartz Vein Property
Nov. 19, 2014 11:40AM PST
Gold InvestingFancamp Exploration (TSXV:FNC) announced it had acquired an option on two grassroots properties in New Brunswick, including one with high gold bearing veins. The North West Gold property has shown gold grab samples ranging from 262 to 493 grams per ton of gold.
Fancamp Exploration (TSXV:FNC) announced it had acquired an option on two grassroots properties in New Brunswick, including one with high gold bearing veins. The North West Gold property has shown gold grab samples ranging from 262 to 493 grams per ton of gold.
According to the press release:
The option agreement is spaced over three years with $25,000 payable up front with the obligation to spend $150,000 before the 14th of March 2016. A further $60,000 is payable in two tranches before March 14th 2017, with total exploration expenditures of $525,000 required before March 14th 2018. A final payment of $420,000 within 30 days of this last date will secure a 100% interest in the property for the Company, accompanied by a 2% NSR with a buyback on 1% for 1 million dollars.
Click here to read the Fancamp Exploration Ltd. (TSXV:FNC) press release