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MPV Exploration Inc.
Summary
| Project: | UMEX 1 | |
|---|---|---|
| Deposit: | UMEX 1 | |
| Location: | Canada | |
| Commodities: | Vanadium | |
| Date: | 1/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-1-2018: MPV Exploration Inc. announces an Exploration/Drilling Update report for its UMEX 1 deposit at the UMEX 1 project. Technical report of the property. This report was prepared to provide a technical report in accordance with National Instrument 43 | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dominique Gagne, Marcel Robillard (Geominex Inc.) | |
| ABSTRACT: | This report was prepared to provide a technical report in accordance with National Instrument 43-101 (NI 43-101) for the UMEX 1 property for the purposes of listing MPV Exploration Inc. on the Canadian Securities Exchange (CSE). The report is also intended to be a comprehensive compilation of past exploration work done on the property in order to assess its potential and recommend further exploration work. At the request of Jean-François Perras, President of MPV Exploration Inc., Géominex Inc., a mineral exploration consulting company, has prepared a technical report in accordance with the current NI 43-101 standard. The report was prepared by Dominique Gagné and Marcel Robillard, M.Sc., both geologists, registered members of the Ordre des Géologues du Québec and qualified persons under NI 43-101. The UMEX 1 property is located in La Ribourde and Saussure townships in the AbitibiEst region (32G/13 and 32G/14). The property consists of a single block of 14 claims (775.6 hectares) located approximately 50 km west of the town of Chapais. Route 113 crosses the property from east to west and a power transmission station is located less than one kilometre from the property. The claims have been renewed and are valid until 2019. On March 31, 2017, MPV Exploration signed an option agreement with Les Ressources Tectonic Inc. to acquire a 100% interest in the mineral claims of the UMEX 1 property. The exclusive option agreement is for a four-year term and calls for $300,000 in cash payments and $500,000 in exploration work. MPV Exploration must pay a 2% net smelter return (NSR) on any commercial production on the UMEX 1 property, but may buy back half the NSR for $1,500,000 at any time prior to the start of commercial production on the property | |
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