Newcastle Options Its Carscallen Property to Rodocanachi Capital Inc.

Newcastle Minerals Ltd. (TSXV:NCM) announced an option on its Carscallen property located in the West Timmins area of Ontario.

As quoted in the press release:

To exercise its option and acquire a 60% interest in Newcastle’s Carscallen Property, Rodocanachi must pay Newcastle $85,000 and issue 750,000 Rodocanachi shares over the next two years, and complete $900,000 of exploration on the property over the next three years.

Newcastle Minerals Ltd. is a Canadian gold exploration company trading on the TSX Venture Exchange (TSX VENTURE:NCM). The company is advancing its three key properties: the 11,100-hectare Pickle Lake Property in northwestern Ontario, its 6,898-hectare property located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.’s Cote Lake deposit, and its 120-hectare Carscallen Property in the West Timmins area of Ontario.

Click here to read the Newcastle (TSXV:NCM) press release. 

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