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Abe Resources Inc.
Summary
| Project: | Dome Lemieux | |
|---|---|---|
| Deposit: | Dome Lemieux | |
| Location: | Canada | |
| Commodities: | Zinc-Lead-Copper-Silver | |
| Date: | 5/12/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-5-2017: Abe Resources Inc. announces a Supporting Acquisition report for its Dome Lemieux deposit at the Dome Lemieux project. Summary of property in support of acquisition. The Dôme Lemieux property is made up of 209 map-designated claims totalling 11 | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: Donald Theberge (Solumines) | |
| ABSTRACT: | The Dôme Lemieux property is made up of 209 map-designated claims totalling 11,146.7 ha or roughly 11.1 km2 . Recently 16 more cells have been designated for a total of 908 ha, they are still pending for their acceptation by the MERNQ. The property is located in the Gaspé Peninsula of the Province of Québec, and more precisely in NTS 22B09 and 22B16, and covers parts of Lemieux, and Baldwin townships. It lies approximately 50 km south of the town of Ste-Anne-des-Monts, by road. The claims will expire from January 18, 2017 to January 28, 2019. Exploration work in the amount of $257,335 will be required upon renewal, along with mining duties in the amount of $12,313. An amount of $4,293,064 in accrued work is currently registered on the claims. All the claims are mapdesignated cells, actually 195 are registered to the name of Pioneer Resources inc., and 14 to the name of Guy Gasse. Transferts from Guy Gasse to Pioneer or ABE will be completed soon. On November 15, 2016 a Letter of Intent (LOI) was signed between ABE Resources inc., a public company and Pioneer Resources inc., a private company for the acquisition of 100% of the issued and outstanding shares of Pioneer. The principal asset of Pioneer is the Dôme Lemieux property located close to the town of Ste-Anne-des-Monts in the province of Quebec. In connection with the closing of the acquisition, ABE will consolidate its issued and outstanding shares on the basis of one new security for every two securities outstanding at the effective time of the consolidation. Pursuant to the acquisition, an aggregate of 5,500,000 post-consolidation common shares in the share capital of ABE will be issued to the shareholders of Pioneer at a deemed price of $0.05 per share, in exchange for all of the issued and outstanding common shares in the share capital of Pioneer. | |
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