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Damon Capital Corp.
Summary
| Project: | Ramsey Mine | |
|---|---|---|
| Deposit: | Ramsey Mine | |
| Location: | United States | |
| Commodities: | Silver | |
| Date: | 11/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-11-2016: Damon Capital Corp. announces a Supporting Acquisition report for its Ramsey Mine deposit at the Ramsey Mine project. Technical report supporting acquistion with Arizona Silver Corp.. The Ramsey Mine Property is located in La Paz County, Arizon | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Thomas Carpenter, Robert Tilsley (Discovery Consultants) | |
| ABSTRACT: | The Ramsey Mine Property is located in La Paz County, Arizona, 6 km southwest of the village of Brenda and 150 km west-northwest of the of the City of Phoenix. The Property consists of two patented claims and 28 unpatented mineral claims, which form a contiguous block of claims covering an area of approximately 234 ha (576) acres. Greg Hahn Consulting LLC, entered a lease and option to purchase agreement, dated November 24, 2014, with Precious Metals LLC covering the Ramsay 1 to 10 unpatented claims surrounding the Ramsay Mine. This agreement was amended on November 10, 2015, as to payment schedule, and further amended on August 18, 2016 to include two fractional unpatented claims. On February 23, 2015, Arizona Silver Corporation, a private company formed under the laws of British Columbia, entered into a lease and option to purchase agreement with J & D Development Inc, covering patented claims surrounding the Ramsey Mine. An additional 16 unpatented lode mining claims, the R1 to R16, were staked and are held by its Chairman and CEO Greg Hahn in trust for the benefit of Arizona Silver Corporation. In a Letter of Intent dated August 11, 2016, Damon Capital Corp has the option to acquire all of the issued and outstanding common shares of Arizona Silver Corporation. Arizona Silver Corporation is the beneficial owner of the above patented and unpatented claims covering the Ramsey Mine Property. It is anticipated that the transaction between Damon Capital Corp and Arizona Silver Corporation will proceed by way of an exempt takeover (share exchange agreement) or such alternate merger structure as is agreed by the parties, provided that such structure can be implemented in compliance with applicable securities laws and stock exchange rules. Complete details of the above agreements are contained in Section 4.4. | |
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