Post by
megacopper on Nov 17, 2006 4:23pm
Tri-Gold options claims
Is Big Duke Lake a typo or is that the name of those 3 claims. No matter, at least Tri-Gold has the option now to get the mineral rights if the current drill program is successful. Its a done deal now that the exchange has accepted it for filing. See news release below.
Tri-Gold options Big Duke Lake from JGM McKirdy
2006-11-17 16:08 ET - Property Agreement
The TSX Venture Exchange has accepted for expedited filing documentation of a letter agreement dated Nov. 8, 2006, between Tri-Gold Resources Corp. and JGM McKirdy Ltd. (the optionor), whereby the issuer may acquire an option for 100 per cent of the mining rights to patented mineral claims (claims TB1861, TB1955 and TB1906, the property), which will form part of its Big Duck Lake property in Ontario,
The issuer will earn a 100-per-cent interest in the property in return for the following payments and commitments:
* cash payments totalling $1-million ($50,000 in the first year);
* share issuances totalling 200,000 common shares (50,000 shares in the first year); and
* work commitments totalling $1-million ($50,000 in the first year) all payable over a four-year period.
The optionor will retain a 2-per-cent net smelter return royalty. The issuer has the right to purchase 1 per cent of the net smelter return for $5-million.
Top