Bluestone Reources To Acquire Mohave Moly-Copper-Silver Project

Bluestone Resources Inc. (TSXV:BSR) reported that it has renegotiated the terms of the purchase agreement for the Mojave Copper-Moly-Silver project in Arizona, and will be acquiring 100% interest in the project.

As quoted in the press release:

Under the terms of the amended purchase agreement, which is subject to the approval of the TSX Venture Exchange, Bluestone will acquire a 100% interest in the property by paying the underlying vendors 300,000 shares of the company on or before September 1, 2012. In addition, Bluestone has agreed to pay the vendors $1,000,000 within six months of receiving a bankable feasibility study.

Bruce Counts, President and CEO of Bluestone Resources, commented:

Bluestone’s management believes that the Mohave Project has the potential to host an economic resource of significant size. Much of the property where mineralization has been identified remains under-explored and a comprehensive review of the technical data is being undertaken to determine the next steps for exploration.

Click here to read the full press release.