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Sunset Cove Mining Inc.
Summary
| Project: | Woodstock | |
|---|---|---|
| Deposit: | Woodstock | |
| Location: | Canada | |
| Commodities: | Manganese | |
| Date: | 11/30/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-11-2016: Sunset Cove Mining Inc. announces a Supporting Acquisition report for its Woodstock deposit at the Woodstock project. Summary of property in support of acquisition. Perry MacKinnon, P.Geo, of Perry MacKinnon Consulting, North Sydney, Nova Scot | |
| Resources: | x | |
| CP/QP: | [Overall Report]: R. Perry MacKinnon (Perry MacKinnon Consulting) | |
| ABSTRACT: | Perry MacKinnon, P.Geo, of Perry MacKinnon Consulting, North Sydney, Nova Scotia was commissioned by Globex Mining Enterprises Inc. and Sunset Cove Mining Inc. to complete a National Instrument 43-101 Technical Report on its manganese-iron (Mn-Fe) occurrence properties near Woodstock, New Brunswick. In 2010 Globex Mining Enterprises Inc. (Globex) acquired by staking 28 claims covering a significant portion of the historic manganese bearing horizon(s) in an area approximately 6.3 kilometres northwest of the town of Woodstock, New Brunswick (Figure 1.0). All of the claims remain in good standing to the present, and are 100% owned by Globex. Also in 2010 Globex acquired the claims of Licence 5745 located approximately 10 kilometres southwest of Licence 5816. The licence was later reduced in size to the current 8 claims. On April 26th, 2016 Sunset Cove entered into an agreement with Globex to option the claims of licence 5816 near Woodstock, and licence 5745 near Irish Settlement, New Brunswick, in order to acquire 100% ownership of those properties. The agreement is as follows: Sunset Cove can exercise the option and earn 100% interest in the properties by making aggregate cash payments of $200,000 to Globex, issuing an aggregate of 4 million common shares to Globex, incurring aggregate exploration expenditures of one million dollars on the Property and delivering a preliminary Economic Assessment (PEA) on or before the fourth anniversary of the Effective Date of April 26, 2016. The agreement also includes a 3% Gross Metal Royalty to be paid to Globex on all metals produced from the Property. | |
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