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LiCo Energy Metals Inc.
Summary
| Project: | Teledyne | |
|---|---|---|
| Deposit: | Teledyne | |
| Location: | Canada | |
| Commodities: | Cobalt | |
| Date: | 10/17/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-10-2016: LiCo Energy Metals Inc. announces a Supporting Acquisition report for its Teledyne deposit at the Teledyne project. Summary of property in support of acquisition. At the request of LiCo Energy Metals Inc. (“LiCo”), the author has completed a g | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Joerg M. Kleinboeck (JMK Exploration Consulting) | |
| ABSTRACT: | At the request of LiCo Energy Metals Inc. (“LiCo”), the author has completed a geological review of the Teledyne Cobalt Project (the “Property”) and prepared this technical report (the “Technical Report”) in compliance with NI 43-101, Companion Policy NI43-101CP, and Form 43-101F1. This Technical Report has been prepared for the purposes of a financing document for LiCo. The author has prepared this report to provide a summary of scientific and technical data on the Property, including historical exploration activities, and has made recommendations concerning future exploration and development of the Property. This Technical Report is based on exploration and Property information supplied to the author by LiCo, as well as by the review of geological and exploration information available in the public domain. LiCo Energy Metals Inc, formerly known as Wildcat Exploration Inc., optioned the Property from Palisade Resources Corp. (“Palisade) on September 8th, 2016. Under the terms of the Option Agreement, LiCo can earn an undivided 100% legal and beneficial interest and right in and to the Property by making staged payments totaling $850,000, and issuing 11,000,000 shares over a period of 78 months. The agreement is also subject to a 2% net smelter royalty (“NSR”) to Palisade. LiCo shall have the right to purchase 1% of the NSR from Palisade for the aggregate amount of $1,000,000, reducing the royalty to 1% after such purchase. | |
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