Axe Exploration (AXQ:TSX Venture) Acquires "Unique" Gold Project Adjacent to Typhoons (TYP:TSX Venture) Fayolle project. AXQ has 55 million shares outstanding and just under $1.5 million in cash. At 0.02/share (last trade) it has a market cap of $1.1 million.
Typhoon's Fayolle is 50% owned and operated by Hecla Quebec, which spent over $10 million to date developing the project.
The project is a strategic addition to their holdings in Quebec in the mineral rich Abitibi region.
Axe, looking to capitalize on its cash on hand, has also been exploring opportunities in the Medical Marijuana space, since April of last year.
Axe Exploration acquires Unique property
2014-12-18 11:27 ET - News Release
Mr. David McDonald reports
AXE EXPLORATION ACQUIRES A NEW PROPERTY ADJACENT TO THE FAYOLLE PROJECT
Axe Exploration Inc. has acquired, by map designation, a new gold property. This new property, 100 per cent owned by Axe Exploration, is called Unique and comprises 12 mining claims covering a surface of approximately 449.54 hectares (4.5 square kilometres). It is located within the Abitibi region, in Quebec and it's adjacent to the Fayolle property, which contains more than 188,000 ounces of gold in the indicated category.
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