Strategic Metals Options Yukon Copper-Gold Property to GT Resources
Strategic Metals (SMD.V) has granted GT Resources a staged option to acquire up to a 75% interest in the CD copper-gold porphyry property in west-central Yukon, according to a Wednesday news release.GT can earn an initial 60% interest in the CD property by paying Strategic C$225,000, issuing Strategic GT shares equal in value to $225,000, and incurring expenditures on the CD property of no less than $10 million by Oct. 15, 2030.GT can acquire an additional 15% interest by making an additional payment to Strategic of $1 million, or the equivalent value in GT shares, on or before Dec. 15, 2030.Following the exercise of the second option, GT and Strategic will form a 75/25 joint venture to further explore and develop the CD property.If GT elects to exercise the first option only, GT and Strategic will form a 60/40 joint venture to explore and develop the property.The property option is subject to GT obtaining TSX Venture Exchange acceptance of the transaction.The property is located within the southern part of the Dawson Range Gold Belt. The intrusive rocks are coincident with a 1,200 meter by 400 m, very strong copper-, gold- and molybdenum-in-soil anomaly overlapping with prominent geophysical features that have not been drill tested.
