Firesteel to sink its teeth into Wolverine pr
Firesteel to sink its teeth into Wolverine property
2007-07-23 18:28 ET - News Release
Mr. Don Barker reports
FIRESTEEL TO ACQUIRE MAJOR GOLD-COPPER-MOLYBDENUM DEPOSIT TARGET
Firesteel Resources Inc. has entered into an option agreement with the Iskut North syndicate to acquire 100-per-cent interest in the Wolverine gold-copper-molybdenum property located in Northern British Columbia. Firesteel can acquire its interest by making staged cash payments totalling $50,000 and issuing 100,000 common shares, and issuing common shares equivalent to $115,000 over four years. The first option payment of $5,000 and 100,000 shares is due upon approval of the appropriate regulatory agencies and the TSX Venture Exchange. The property is also subject to a 2-per-cent net smelter return, which Firesteel, at its option, can repurchase one-half of for $750,000.
The Wolverine property is situated along the access road to the Golden Bear mine approximately 40 kilometres northwest of the community of Telegraph Creek. Past work has identified a large mineral exploration target based upon soil geochemical analysis and geophysical surveys.
Firesteel plans to conduct extensive prospecting for molybdenum and diamond drilling a known gold structure.
We seek Safe Harbor.