GREY:BHNGF - Post by User
Post by
deninsaskon May 07, 2007 1:00pm
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Post# 12737974
Recall Campbell and Hawke..22Lbs U3O8/tonne
Recall Campbell and Hawke..22Lbs U3O8/tonne
Remember these guys are the Vendors that sold us some claims and we hired them as consultants. I have posted about this before......
Like I posted in Feb. or so ........They have postulated that there is HighGrade Uranium in the Basement Rock and they have 'Options' that are directly tied to finding U3O8 with a grade of 1.0% (one percent) and higher over a true width of 2 metres. Thats 22 Lbs./tonne....... So that is Old News .......BUT NOW Pele is drilling for it and that is new Good News.
Heres the link to the NR stating the 1% (one percent!)U3O8..... https://pelemountain.com/press-releases/article.php?date=1166455980
And heres part of the deal like I posted before........ Each Consultant will be granted an option to purchase 100,000 shares of Pele during the five-year Option Period commencing on December 15, 2006 at a purchase price of $0.88 per share (the "Options"). 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. NICE!!