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Cyntar Ventures Inc.
Summary
| Project: | Lorn | |
|---|---|---|
| Deposit: | Lorn | |
| Location: | Canada | |
| Commodities: | Gold-Copper-Molybdenum-Silver | |
| Date: | 1/31/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-1-2018: Cyntar Ventures Inc. announces an Exploration/Drilling Update report for its Lorn deposit at the Lorn project. Technical report of the property including exploration reccomendations. The Lorn Cu±Mo±Ag±Auproperty (the “Property”), consisting of | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Thomas H. Carpenter (Discovery Consultants) | |
| ABSTRACT: | The Lorn Cu±Mo±Ag±Auproperty (the “Property”), consisting of ninecontiguous mineral titles covering approximately 3,876 hectares, is centred 190 km north of Vancouver in southwestern British Columbia. Property access is from Pemberton, Tyax Lake or Lillooet by fixed-wing float plane or helicopter. The Property is owned 25% by John A. Chapman,25% by Gerald G. Carlson, 25% by Chris R. Paul and 25% by Michael A. Blady (the “Vendors”), held by Carlson on behalf of KGE Management Ltd. According to the terms of an Exercise of Option agreement (the “Agreement”) between the Vendors and Cyntar Ventures Inc. (“Cyntar”), signed on July 11, 2017 and amended on September 13, 2017, the latter could earn a 100% interest in the Property by spending $2.5 million on exploration, making payments of $150,000 and issuing 600,000 Cyntar shares to the Vendors on or beforethe fourth anniversary of the Agreement. On September 13, 2017, Cyntar entered into an amendment agreement with the Vendors further amending the terms of its Lorn Property Agreement. Under the terms ofthe amendment agreement Cyntar will pay the Optionor $5,000 if it fails to obtain a CSE listing on or before December 31, 2017. The Property occurs within the Tyaughton Trough, a narrow, northwest trending basin that lies along the northeast margin of the Coast Plutonic Complex. The Tyaughton Trough includes mainly sedimentary strata ranging in age from Middle Jurassic to Upper Cretaceous. To the north and east of the Property, these rocks include argillite, turbidite, shale and siltstone. | |
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