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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cadillac Ventures Inc | TSXV:CDC | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.05 | 0.05 | 0.055 | 0 | 01:00:00 |
Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce the signature of an acquisition agreement for a 100% interest in forty (40) map-designated claims ("CDC") and twelve (12) staked claims that make up the Barry-Urban-Centre property located in the Barry township of Quebec which is some 100 km east of Lebel-sur-Quevillon in the Abitibi region. Amseco is acquiring the claims from North American Exploration (50%) from Komoka, ON, Garry Majerle (25%) from London, ON, and Michel Lavoie (25%), from Val d'Or, QC. The property covers a total area of 2,445.71 hectares. Some of the acquired claims are located in the middle of the Barry-Urban mining camp and are immediately contiguous to the area where the Eagle Hill (TSX-V:"EAG") was recently drilling and for which results were announced. The claims are located in the Barry-Urban mining camp that hosts Metanor's (TSX-V-"MTO") "Barry" open pit gold mine as well as Beaufield Explorations' ("BFD" TSX-V) Lac Rouleau gold showing, Eagle Hill's Windfall showing and project and the Murgor zone. In addition there are a number of other surface gold showings as well as a number of diamond drill holes intersections which revealed the presence of gold including the Lac Kent and Macho river discoveries. To complete the acquisition Amseco must pay in cash to the vendors thirty thousand dollars ($30,000): five thousand upon regulatory approval, ten thousand dollars ($10,000) upon delivery of the staking certificates and fifteen thousand ($15,000) on or before August 15, 2010. The Corporation must issue eight hundred thousand (800,000) treasury shares of which 400,000 will become free trading 4 month and 1 day following the regulatory approvals and the balance on December 6, 2010. A 2.3% NSR is payable on all production from the property. One percent (1.00%) of the NSR can be bought back by Amseco for a payment of $1,000,000. The Barry-Urban project, which includes the Amseco owned claims or over which it holds an option to purchase, now covers seven hundred and seventy six (776) claims in the Urban-Barry mining camp. This represents an area of more than fifteen thousand six hundred and ten (15,610) hectares, or 156.10 square kilometers. Amseco is now the participant with the largest land position in the Barry-Urban mining camp. The project is one of the company's three main gold projects that also include the Malartic and Timmins properties. Amseco strongly believes that the Barry-Urban region will greatly benefit from a unified exploration approach and it forecasts that the expansion of the exploration effort will deliver positive results. We seek safe harbour
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