TomaGold (TSX: V.LOT, Stock Forum) Tuesday said it has acquired a 100% interest in the Lac Cavan property, consisting of 66 claims covering 3,670 hectares just west of Chapais, near Quebec's Chibougamau mining camp, this according to a company news release.
TomaGold will pay 2736-1179 Quebec Inc $150,000, through the issuance of one million common shares of the company and a 2% NSR, of which 1% can be repurchased for $1 million.
"The Lac Cavan acquisition is part of our plan to consolidate our land position in the Chibougamau mining camp. Our geologists and external technical team feel that Lac Cavan is a good fit with our existing portfolio of promising mining properties in the area," said TomaGold President and CEO David Grondin.