RE: Recall Campbell and Hawke..22Lbs U3O8/tonne
jonstrom........heres the options wording. From December 18th 2006.
"The Consultants may only exercise their Options during the first four years of the Option Period following a discovery in drill core of uranium mineralization in the basement rocks on the New Claims that returns any combination of width and grade that is equivalent to a minimum of 1-percent uranium over a true width of 2 metres (the "Condition Precedent"). Such a discovery would represent a profound achievement and would add substantial value to Pele's Elliot Lake project.
Upon fulfillment of the Condition Precedent during the Option Period, Pele will pay each of the Consultants $88,000 as a consulting fee (the "Consulting Fee"), to be used entirely toward the exercise of their options. During the fifth year of the Option Period, the Condition Precedent will not apply to the exercise of the Options. Any Consultant who fully exercises his Options during the fifth year of the Option Period, prior to the fulfillment of the Condition Precedent, will nevertheless receive the Consulting Fee if the Condition Precedent is subsequently fulfilled within 5 years following the expiration of the Option Period."
These guys postulated the possibiity of22lbs./tonne U3O8 and Shefsky hired them as the Consultants last year in Dec. to help them find it. Heres the Link to the NR about it!! https://pelemountain.com/press-releases/article.php?date=1166455980