![]() I fully endorse Perseverance's strategy of exploring for high-grade magmatic sulphide ore deposits in leading North American mining jurisdictions." ![]() As a significant shareholder of Perseverance, Bitterroot's shareholders will benefit from Perseverance's management, capital markets and exploration skills, in addition to gaining exposure to two other high-quality magmatic nickel projects: Lac Gayot in Quebec and Armit Lake in NW Ontario, plus any of their future property acquisitions. They are a highly motivated and experienced group, with the technical and financial expertise to rapidly advance the Voyageur Project. Michael Carr, CEO of Bitterroot commented, "I am looking forward to supporting the team at Perseverance. Go-Public Commitment: Perseverance becoming a reporting issuer in Canada within 18 months, subject to a conditional 6-month extension.Financing Commitment: Raising aggregate gross proceeds of C$5,000,000 within 18 months (the "Equity Financings"), with Bitterroot and Altius retaining a combined 20% free-carry interest on any common shares issued pursuant to the Equity Financings,.Exploration Commitment: Incurring C$2,000,000 in exploration expenditures on the Voyageur Project before December 31, 2025, including C$250,000 within the first 12 months of the Option,.Initial Equity: Issuing to Bitterroot and Altius a total of 20% ownership in the equity of Perseverance, to be distributed based on their pro-rata ownership of the Voyageur Project,.and Voyageur Lands Corp, each a wholly owned subsidiary of Bitterroot Resources Inc. The Option Agreement gives Perseverance the exclusive option until Decemto earn a 100% interest in the Voyageur Project from Altius Resources Michigan Inc, a wholly owned subsidiary of Altius Minerals Corp., and from Trans Superior Resources Inc. The Eagle Mine is the only active primary nickel mine in the United States. Voyageur is located approximately 65 kilometres west of Lundin Mining's Eagle nickel-copper-PGM mine in the Upper Peninsula of Michigan. ( 49.9% owner, symbol BTT, TSX-V) and Altius Minerals Corporation ( 50.1% owner, symbol ALS, TSX) have entered into an option agreement with Perseverance Metals Inc., whereby Perseverance can acquire a 100% interest in the 680 square-kilometre (262 square-miles) Voyageur Nickel-Copper-PGM Project. VANCOUVER, BC / ACCESSWIRE / Aug/ Bitterroot Resources Ltd.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |