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Shafer Resources Corp.
Summary
| Project: | Dash Lake | |
|---|---|---|
| Deposit: | Dash Lake | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 4/11/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-4-2019: Shafer Resources Corp. announces a Supporting Acquisition report for its Dash Lake deposit at the Dash Lake project. Summary of property in support of listing and acquisition. Clark Exploration Consulting of Thunder Bay, Ontario was contracted | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Desmond Cullen, Gary Clark, Steven Siemieniuk (Clark Exploration Consulting) | |
| ABSTRACT: | Clark Exploration Consulting of Thunder Bay, Ontario was contracted by Shafer Resources Corp. (“Shafer”), to review historic data for their Dash Lake Property (the “Property”), identify its merits, propose an appropriate exploration program and budget for gold exploration on the property, and prepare a Technical Report (the “Report”) compliant with NI 43-101 and suitable for inclusion in a prospectus document for the purposes of a financing or listing application by Shafer. Shafer’s Property is located in the Brooks Lake and Dash Lake Areas of the Kenora Mining Division in northwestern Ontario, approximately 90 kilometres north of the town of Fort Frances, Ontario and 30 kilometres east of the town of Nestor Falls, Ontario. The UTM co-ordinates for the approximate centre of the claim block are 458900 Easting, 5440000 Northing (NAD 83, UTM Zone 15). The Property has annual work requirements of $15,600.00. The Property consists of 44 contiguous unpatented mining claims, including 10 boundary cell mining claims and 34 single cell mining claims encompassing a total area of approximately 815 hectares (8.15 square kilometres). The claims are held 100% by Perry English, and under the terms of an option agreement with Perry English (and his wholly-owned numbered company, 1544230 Ontario Inc.), Shafer can earn a 100% interest in the Property by making a payment of $6,000 cash, issuing 500,000 shares of Shafer Resources Corp., and incurring a minimum of $75,000 in exploration expenditures. P. English retains a 1.5% net smelter royalty (“NSR”) on 15 of the claims, and Abitibi Royalties Inc. and Tripleflag Mining Finance Ltd. (formerly “Aurico Metals Canadian Royalty Partnership” (a wholly-owned subsidiary of Aurico Metals Inc.)) each hold a 0.75% NSR on the other 29 claims. | |
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