RE:RE:PDAC 2020 video I agree on all those points that you make. I look & accumulate for these type of juniors. My criteria that i'm looking for to invest are. 1) Low outstanding shares, with chance of no further dilution or minimal dilution. 2) Active project(s) with steady stream of news in the near future I0-12) months. Trs is active both in a diamond project & gold project. The Diamond project is advancing with Macrodiamond testing & drilling the Kimberlite field this summer & mini bulk sampling . Plenty of news flow. Majority of diamonds found to date & analyzed at Chuck Fipke's lab recently are the rare type 2 diamonds (Gem Quality) .
3) The gold project in Amos Quebec with excellent terms , both for news flowv & treasury.
Under the terms of the Option Agreement, Kiboko can earn an initial 65% interest in the Fontana Gold Project, subject to underlying royalties, within a four-year period from the closing of the Transaction under the following conditions:
| (a) | Making total cash payments or subscribing for securities of Tres-Or totalling $1,000,000, and, |
| | |
| (b) | complete a technical report prepared in accordance with NI 43-101 that establishes a mineral resource estimate of no less than one million (1,000,000) ounces of gold of Inferred classification or higher, or incur expenditures on the Fontana Gold Project's claims totalling $4,000,000. |
In addition to receiving cash payments, Tres-Or shareholders will maintain meaningful upside to the Fontana Gold Project as the staged option agreement is expected to result in a joint venture as spending or technical milestones are achieved.
Fontana Gold Project
The Fontana Gold Project, located in the Abitibi Greenstone Belt, includes contiguous claims now covering a surface of about 100 km2. The main Fontana claims are located about 65 kilometers north of Val-d’Or, Quebec. The property leverages year-round road access, onsite power and significant additional infrastructure. It is currently optioned to private company who renamed the project the Harricana Gold Project.
The Fontana property includes more than 300 drill holes, channel samples and underground workings. Historic groundwork dates back to the 1930s, when the best drill intersections revealed 17.5 g/t gold grades over 38.1 meters and 17.1 g/t gold over 13.7 meters. In total, there have been over 22,000 tonnes of historical bulk samples taken from certain Fontana claims.