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Le Mare Gold Corp.
Summary
| Project: | Le Mare | |
|---|---|---|
| Deposit: | Le Mare | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/29/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-8-2018: Le Mare Gold Corp. announces a Supporting Acquisition report for its Le Mare deposit at the Le Mare project. Summary of property in support of option agreement. The Le Mare property comprises 12 map-staked claims covering 2677.24 hectares (6615 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Brian Lennan (Independent) | |
| ABSTRACT: | The Le Mare property comprises 12 map-staked claims covering 2677.24 hectares (6615.60 acres) in the Nanaimo Mining Division and in the Rupert Land District of western British Columbia (Figures 2 and 3). It is located on N.T.S. map sheet 92 L/5, as well as on B.C. map sheets: 092L 031and 041. All claims comprising the property are in good standing until at least February 5, 2019. The mineral claims comprising the Le Mare property is owned by J.T. Shearer; M.Sc., P.Geo. On September 21, 2017, J.T. Shearer (Optionor) and Le Mare Gold Corp.(Optionee) which consists of Bam Bam Capital Corporation (President David Greenway), 674965 BC Ltd. (President Michael Konnert) and 1153307 BC Ltd. (President Russell Van Skiver). Le Mare Gold Corp. (The Optionee) entered into an agreement whereby The Optionee could obtain 100% interest in and to the claims, and to all mineral rights secured by those claims. The potential interest is subject to a 3% net smelter return royalty payable to J.T. Shearer, of which The Optionee may purchase 50% at any time for $1,500,000. The option is exercisable upon payment of a total of $5,000 (paid) and 150,000 shares and completion of a total $100,000 worth of work on the Le Mare property by September 21, 2022. The Le Mare hydrothermal system is located on crown land in the southwestern part of the property area. The Mah-te-nicht No. 8 Indian Reserve is located adjacent with the northeastern property boundary, about 4.5 km (2.75 mi) north-northeast of, and in a different drainage from the Le Mare hydrothermal system. However, if ocean-going barge loading facilities were to be developed on the south shore of Quatsino Sound, the Quatsino Band would become involved in the design and construction of those facilities. J.T. Shearer has been consulting with the Quatsino Band Council since February, 2007 with regard to exploration of the Le Mare property. There is no plant or equipment, inventory, mine or mill structure on these claims. Currently, an environmental bond of $15,000 is posted under amended Permit No. MX-8-253 for road renovation, the development of potential drill sites and diamond drilling. | |
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