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DeepRock Minerals Inc.
Summary
| Project: | Ralleau | |
|---|---|---|
| Deposit: | Ralleau | |
| Location: | Canada | |
| Commodities: | Copper-Zinc-Silver | |
| Date: | 12/4/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-12-2017: DeepRock Minerals Inc. announces a Supporting Acquisition report for its Ralleau deposit at the Ralleau project. Summary of property in support of acquisition. This report has been prepared for DeepRock Minerals Incorporated (“DeepRock”), an in | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Langton (MRB & Associates) | |
| ABSTRACT: | This report has been prepared for DeepRock Minerals Incorporated (“DeepRock”), an incorporated company in the Province of British Columbia, and reporting issuer in British Columbia and Alberta (not currently listed for trading), with head offices at #1000‐409 Granville Street, Vancouver, British Columbia, Canada, V6C 1T2. The Ralleau Property (“the Property”, or “the Project”), covers parts of Ralleau and Wilson townships on NTS map sheet 32F/01, approximately 50 kilometres east of Lebel‐sur‐Quevillon, a small community in north‐western Quebec. The Property overlies a sequence of Archean volcanic rocks belonging to the Abitibi Greenstone Belt that have the potential to host volcanogenic massive‐sulphide (VMS) and lode gold deposits. The claims comprising the Property are owned 100% by Megastar Development Corporation (“Megastar”) and were in good standing as of April 10th, 2017 when DeepRock entered into an Option Agreement with Megastar to acquire a 50% ownership of the Property. Under terms of the Option Agreement, DeepRock will be deemed to have exercised its Option upon: 1) paying to Megastar $100,000 cash in staged payments over a period of 3 years (beginning on the signing date); 2) issuing to Megastar a fully paid and non‐assessable 750,000 shares, in stages, over the same 3 year period, and; 3) expending $250,000 in exploration on the Property over the same period. | |
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