- WestKam Gold (TSXV:WKG) has signed an agreement to purchase the McConnell Property in British Columbia
- The property includes five mineral claims
- The company will acquire the property by issuing a number of shares that will equate to the vendor holding a 19.99 per cent interest in WestKam Gold
- Shares of the company are unchanged at C$0.075
WestKam Gold (TSXV:WKG) has announced it will acquire a 100 per cent interest in the McConnell Property in British Columbia.
In a statement, the company said it has signed an agreement with an arm’s-length party, GGL Resources, to purchase five mineral claims that compose the property.
WestKam Gold will acquire the property by issuing to the vendor the number of shares that will result in it holding 19.99 per cent interest in the company.
“The completion of this acquisition will provide WestKam with a major exploration project that checks all the boxes: critical metal and gold targets, road accessible, near other mines in a world-class exploration district and acquired for what we believe is a fair cost,” Peter Laipnieks, CEO of WestKam Gold, said in a statement.
Located in northern British Columbia, the McConnell property is made up of 8,700 hectares in British Columbia’s Golden Horseshoe region.
The property is 22 kilometres southeast of the past-producing copper-gold mine.
The McConnell property also has active exploration and drill permits and has had more than $4 million done in previous exploration work that has identified potential copper and gold porphyry-style systems.
Shares of the company are unchanged at C$0.075.
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