Maxus Mining (MAXM.CN) on Tuesday said it earned a 100% interest in the Penny Copper project in British Columbia, through a combination of cash and share payments.
The company said it fulfilled all obligations under its purchase agreement, giving Maxus full ownership of the project, made up of 3,123 hectares in a prolific mining region in southeastern British Columbia. The project hosts numerous historical mineral occurrences and benefits from over a century of recorded exploration activity, it said.
Maxus will now focus on advancing geological and geophysical interpretation to streamline drill-target refinement, integrating available datasets into 2D and 3D geological models, and evaluating future exploration programs across the project.
Shares of the company were last seen down $0.02 to $0.90 on the Canadian Securities Exchange.
Price: $0.90, Change: $-0.02, Percent Change: -2.17%