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Rainy Mountain Royalty Corp V.RMO

Alternate Symbol(s):  RMNXF

Rainy Mountain Royalty Corp. is a Canada-based mineral exploration project generator. The Company is engaged in the acquisition and exploration of mineral resource properties. The Company’s focus is to acquire early-stage exploration opportunities and deliver them drill target ready to joint venture partners. The Company holds multiple property interests in Ontario and is primarily focused on shear hosted gold and base metals properties with associated gold and silver credits. The Company’s projects are Marshall Lake property, and Lake Brunswick Properties. Its other properties consist of the Clay/Powell and Norton Lake Properties. The Marshall Lake property is in the Thunder Bay Mining Division, Ontario. Its Brunswick Properties consist of 13-claim units located in Brunswick Twp., Ontario. It owns a 100% interest in claims located in the Thunder Bay Mining Division, Ontario. The Company holds a 30.21% interest in the Norton Lake Property.


TSXV:RMO - Post by User

Bullboard Posts
Post by TERRIBLEon Mar 23, 2014 6:41pm
223 Views
Post# 22357902

Rainy Mountain Royalty....hamlin/deaty IOCG

Rainy Mountain Royalty....hamlin/deaty IOCG

An interesting report dated December 10,2013...

....................

Management Interim discussion & analysis October 31, 2013

 

As of October 15, 2007, the Company and its joint venture partner, Mega, entered into an option agreement with

Xstrata Copper Canada ("Xstrata"), whereby Xstrata may earn a 51% interest in the Hamlin and Deaty Properties by

spending $3,000,000 over four years (completed as of October 1, 2011), with a further option to earn an additional

24% interest by incurring not less than $20,000,000 in feasibility study expenditures or completing a feasibility

study in the Deaty and Hamlin properties.

 

Currently, the Company, Mega and Xstrata are negotiating the terms of a

Joint venture agreement to facilitate the further exploration of the Hamlin and Deaty Properties.

 

Current status:

From 2010 to date, Xstrata, as operator for the Hamlin/Deaty property joint venture, has drilled and completed 20

core drill holes (for a total of 6,037 metres drilled).

The Company is currently waiting to receive a detailed updated summary of Xstrata’s exploration activities on the property.

==================

side-note:

the IOCG zone * [iron-oxide-gold-copper] is about 12 1/2 km in length....includes the Deaty,Hamlin,Clay,Freewest [now Cliff Natural Resources] properties (as portrayed in the Eastwest Resources 2008 annual report)

*Age dating has established that the mineralization is Timiskaming in age, 2690 my, and is therefore the same age as the IOCG deposits in Brazil.


Bullboard Posts