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ePower Metals Inc.
Summary
| Project: | Panther Creek | |
|---|---|---|
| Deposit: | Panther Creek | |
| Location: | United States | |
| Commodities: | Cobalt-Copper-Gold | |
| Date: | 5/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-5-2018: ePower Metals Inc. announces an Exploration/Drilling Update report for its Panther Creek deposit at the Panther Creek project. Summary of property and recommendations of further work. The Panther Creek Project (“PC” or the “Property”) is compris | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bruce Kienlen (Internal) | |
| ABSTRACT: | The Panther Creek Project (“PC” or the “Property”) is comprised of 155 unpatented fractional and full-sized lode mining claims totalling approximately 1,230 hectares (3,040 acres) and two contiguous patented mining claims that cover approximately 16.7 hectares (41.3 acres). The total project area is approximately 1,247 hectares (3,082 acres). The claims and permits have not been legally surveyed. The unpatented claims are registered to Utah Mineral Resources LLC (“UMR”) of Kaysville, Utah. The two patented claims are owned by Timothy and Linda Jackson and under lease to UMR. The Property is under Option to ePower Metals Inc (“ePower”). ePower has earned 50% by paying to UMR the sum of US$175,000 and issuing a total of 5,500,000 common shares to the shareholders of UMR. Under the Option Agreement, the Property is now under Joint Venture between UMR and ePower. To earn 100% interest in the Property, ePower needs to make additional cash payments of US$300,000 and incur expenditures of US$375,000 as per the Option Agreement and detailed in Section 4. The patented mining claims are under lease to UMR and ePower is obligated to make yearly cash payments to the patented claim owners for ten years. UMR will retain a 2% Net Smelter Royalty (“NSR”) on the Property and the patented claim owners will retain a 1.5% NSR on production from the patented claims (1.0% may be purchased for US$1M). The Property is located in Lemhi County of east central Idaho, USA. Salmon, Idaho, the nearest full-service town, is located 30.5 kilometres (19 miles) east of the Property. | |
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