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Bullboard - Stock Discussion Forum 1844 Resources Inc V.EFF

Alternate Symbol(s):  EFRSF

1844 Resources Inc. is a Canada-based exploration company with a focus on the metals and underexplored regions Gaspe, Nunavik, Quebec. The principal business of the Company is the identification, exploration, and development of mineral properties. Its projects include Vortex, Davidson, Native Copper, Lac Arsenault, and Lac Crystal. The Vortex project is a copper molybdenum exploration... see more

TSXV:EFF - Post Discussion

1844 Resources Inc > 1844 Expands its Native Copper Project to 208 Claims
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Post by Betteryear2 on Feb 10, 2022 9:08am

1844 Expands its Native Copper Project to 208 Claims

SASKATOON, Saskatchewan, Feb. 10, 2022 (GLOBE NEWSWIRE) -- 1844 RESOURCES INC. (TSX-V:EFF) (the “Company” or “1844”) announces that it has entered into a purchase agreement (the "Agreement") to acquire a 100% undivided interest in 25 additional claims on its Native Copper Project from two separate private vendors (each a “Vendor”).

As consideration, each Vendor will receive 200,000 common shares (400,000 common shares in total) and a 2% net smelter returns royalty, 1% of which may be retired for a one-time payment of $500,000.

Additionally, 1844 has stake 70 new cells to the southwest of the green stone belt, bringing its position to a total of 208 claims, including 7 known copper showings (see figure):

  • Ruisseau Bleu
  • T.Nelson 1 and 2
  • Fer Cheval-1
  • Ruisseau Cantin
  • Riviere St-Jean South
  • Route 102 S-W
  • Jean-Baptiste Beaudin

About Native Copper: 1844 Resources has 100% undivided interest in 208 claims in the Southern part of the Gasp Peninsula, to the North-West of the municipality of Chandler and Northeast of Port-Daniel. The project now extends on 98sq/km and 7 known showings are part of the property.        

About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gasp, Chibougamau Qubec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.

Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release.



https://www.globenewswire.com/news-release/2022/02/10/2382944/0/en/1844-Expands-its-Native-Copper-Project-to-208-Claims.html

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