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Logan Resources Ltd.
Summary
| Project: | Griffon Property | |
|---|---|---|
| Deposit: | Griffon Property | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 8/15/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-8-2016: Logan Resources Ltd. announces a Supporting Acquisition report for its Griffon Property deposit at the Griffon Property project. Summary of property in support of acquisition. The Griffon Project is a large property with a past-roducing mine in | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Edward Lyons (Tekhne Research Inc.) | |
| ABSTRACT: | The Griffon Project is a large property with a past-roducing mine in the White Pine Range in White Pine County in east central Nevada. Pilot Gold (USA) Inc. based in Vancouver, BC has 100% interest in the claims. On July 7, 2016, the Issuer and Logan Resources (USA) Ltd. (“Logan USA”) entered into an option agreement with Pilot Gold (USA) Inc. (“Pilot Gold”) to acquire up to an 80% interest in certain gold mineral exploration properties located in Nevada and Utah, USA (the “Pilot Transaction”). The option agreement provides for the Issuer to evaluate a total of nine exploration properties over a 12 month period, including the Griffon Property. At the end of the 12 month period, provided that the initial expenditure requirements detailed below have been met, the Issuer will select four of the nine properties to earn a 51% interest in those properties (the “Selected Properties”). The remaining five properties will be returned to Pilot Gold. | |
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