Canada-based Crocodile Gold Corp. (TSE: CRK) has signed an option agreement met silver and base metals producer Fortuna Silver Mines (TSE: FVI), which Fortune is a 100% interest in the Crocodile Mario buildings in the center of Peru acquisition. The Mario property, which covers 3850 hectares, hosts several large silver-lead-zinc deposits such as El Porvenir, Cerro de Pasco and Atacocha.
Under the conditions of the agreement, Fortuna has the option to purchase 100% interest in the Mario Property door, pay the U.S. $ 500,000 on signing the contract, Other U.S. $ 500,000 at the FOR Six Months The Signature and Payment for Other EEn same amount within a year. Ten Slotte Must Pay Fortuna laptop Other U.S. $ 2.5 Million In Two Years after the Signing of the option agreement.
Additionally, The Real Estate is subject to a 1% Net Smelter Return (NSR) royalty on Crocodile Gold Production.
Mario will also be subject to Laptop 2% NSR on the Production Tax, payable to Teck Cominco, and a 0.5% NSR on the Production Tax paid to Socrate Capital, met royalty subject to certain buy-back arrangements.
The divestment of the Mario Property in Peru is forecast to be Gold Crocodile solely on its Australian operations, the company said.
Gold Crocodile Works gold mines in the Northern Territory of Australia, met with a land position of 2,700 km, from the mining Howley, Mottram North Point and Princess Louise open pits.
The Company currently has ramped up her efforts Exploration Property in the Northern region of Australia, met with four drill rigs on site and more to come in subsequent weeks. Drill results will be available in June, Crocodile Gold said.
Crocodile Gold has 3.17 million ounces of NI 43-101 compliant measured and indicated mineral resources and 2.14 million ounces of inferred mineral resources.
source:proactiveinvestor.com
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