Author of the article:
Published Jul 24, 2023 • 3 minute read
Vancouver, Canada, July 24, 2023 (GLOBE NEWSWIRE) — WestKam Gold Corp. (TSX-V:WKG)(the “Company” or “WestKam”) is pleased to announce that it has signed a definitive agreement with an arm’s length party, GGL Resources Corp., to purchase 5 mineral claims commonly referred to as the McConnell property, located in northwestern British Columbia. The Company will acquire a 100% interest in the McConnell property by issuing to the vendor such number of common shares as will result in the vendor holding a 19.99% interest in the Company as of the closing date after giving effect to the issuance of these shares. When issued, the shares will be subject to a statutory 4 month and a day hold period from the closing date under applicable securities laws. The vendor will also retain a 2% net smelter return royalty on the McConnell property. Closing will occur upon all conditions precedent being met, including, amongst other things, receipt of TSX Venture Exchange approval.
Advertisement 2
This advertisement has not loaded yet, but your article continues below.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world’s leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world’s leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword.
REGISTER TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors.
The McConnell property comprises 8,700 hectares in the Golden Horseshoe region of British Columbia. The road-accessible property is located 22 km southeast of the past-producing Kemess Copper-Gold Mine in close proximity to a hydro grid. The property has active exploration and drill permits, and has had over $4 million in prior exploration work. Potential copper/gold porphyry style systems have been identified along with shear hosted, gold mineralization. Satellite remote sensing structural interpretation and data synthesis has confirmed the gold and copper zones as high priority targets for further exploration. An additional 5 high priority and 11 secondary priority areas have been identified using the same criteria. Future areas of investigation are spread along the entire property and are coincident with the major geological faults.
Article content
Financial Post Top Stories
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300
Advertisement 3
This advertisement has not loaded yet, but your article continues below.
Article content
WestKam CEO, Peter Laipnieks, comments, “The completion of this acquisition will provide WestKam with a major exploration project that checks all the boxes: critical metal and gold targets, road accessible, near other mines in a world class exploration district and acquired for what we believe is a fair cost.”
Lorne Warner is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
About WestKam
WestKam Gold Corp. is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Western Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
“Peter Laipnieks”
Peter Laipnieks, President & CEO
Advertisement 4
This advertisement has not loaded yet, but your article continues below.
Contacts:
WestKam Gold Corp.
Contact: Investor Relations
Suite 900, 570 Granville Street 250.216.5674 Vancouver, BC V6C 3P1
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Article content
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Financial Post – https://financialpost.com/globe-newswire/westkam-gold-signs-definitive-agreement-to-acquire-the-mcconnell-property-in-british-columbia