using one of the options I outlined:
Greenwood Gold Resources, Inc. Announces Purchase of Summer Lake Property From Candorado Ltd.
PALM CITY, Fla., June 27, 2011/PRNewswire/ -- Greenwood Gold Resources, Inc. ( OTCBB-GGRI ) and (OTCQB_GGRI) has purchased a 100% working interest Option from CandoradoLtd. in Calgary Alberta as previouslyannounced in its 8K filing. The property is located in the QuesnelTerrane and the exploration target is an Alkalic copper-gold porphyrydeposit.
About the Summer property:
The 955 hectares Summer property is approximately 20 kilometers east of Lac La Hache, in the Cariboo region of south central British Columbia.The property area is within a portion of the Quesnel Trough, an UpperTriassic to Jurassic volcanic arc sequence.. The geology, alteration andmineralization on the Summer property suggest it is underlain by aporphyry related copper/gold system with potential to develop a porphyrycopper/gold or skarn deposit.
The first part of the option agreement, Greenwood Gold Resources is required to complete a $350,000 exploration program and pay $150,000cash to the company in order to earn the 40% interest within 6 monthof the option date. The 6.144.975 Common shares have already been issuedto Candorado as part of the agreement Greenwood is planning for anupdated technical report and ongoing geophysical, geochemical surveysand drilling.
For more information on the option agreement please see 8K under company filings.
Thiswill give Greenwood Gold Resources a start in the Mining and Metalindustry, the company will update its shareholders for futuredevelopment in the near future.
For more information on location and Map please visit the company website.