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Red Hut Metals Inc.
Summary
| Project: | Providence | |
|---|---|---|
| Deposit: | Providence | |
| Location: | United States | |
| Commodities: | Gold-Silver-Lead | |
| Date: | 5/2/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-5-2017: Red Hut Metals Inc. announces a Supporting Acquisition report for its Providence deposit at the Providence project. Summary of property in support of acquisition. On August 04, 2016 at the request of Ron Coombes and Ray Merry and eventually for | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Kowalchuk (JMK Geological Services) | |
| ABSTRACT: | On August 04, 2016 at the request of Ron Coombes and Ray Merry and eventually for Red Hut Metals Inc., the author visited the historic Providence Gold Mines Property with the purpose of evaluating whether the Providence Mine is a property of merit. The author spent one day on the property, performing a cursory geological review of the property including taking 7 mineralized rock samples from the surface and the underground workings. On February 1, 2017, Ray Merry and Ron Coombes entered into a Memorandum of Terms for a Mining Lease Joint/ Venture and Option to Purchase Agreement with the Richard Ellers, trustee of Ellers Family Revocable Trust (Owner) for the Providence Mine in Tuolumne County, California. On February 21, 2017, Ron Coombes and Ray Merry assigned the Mineral Property Interest to Red Hut Metals Inc. (Lessee) with a Letter of Intent. The Definitive Agreement for the transaction was signed on March 28, 2017. On completion of Option to Purchase Agreement, Red Hut Minerals will own 100% of the property. A two phase exploration program is recommended for the property. The first phase will consist of geological mapping of the surface rocks and underground workings to develop a structural model and controls for the location of various mineralized zones that have been discovered and some of which were mined. The mapping will focus on the stratigraphy and structure and will locate and sample any new quartz veins discovered during the mapping. | |
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