- Nickelex Resource (TSXV:NICK) is set to acquire a 100 per cent interest in nine claims within the Boundary District in south-central British Columbia
- Known as the Arlington Property, the company will be acquiring the claims through an agreement with Origen Resources (CSE:ORGN)
- The company may earn a 100 per cent interest in the property by meeting certain obligations to Origen Resources
- Shares of Nickelex Resource are up 25 per cent to C$0.025 as of 10:20 am ET
Nickelex Resource (TSXV:NICK) is gearing up to acquire a 100 per cent interest in nine claims within the Boundary District in south-central British Columbia.
Known as the Arlington Property, the Vancouver-based company stated in a news release that it will be acquiring the claims through an agreement with Origen Resources (CSE:ORGN).
Under the terms of the agreement, Nickelex Resource may earn a 100 per cent interest in the property by meeting certain obligations to Origen Resources, including:
- making cash payments totalling $130,000
- incurring exploration expenditures of $250,000 on the Arlington Property; and
- issuing shares to Origen valued at $200,000 within seven days of regulatory approval; and
- issuing additional shares to Origen valued at $200,000, or 2 million shares, whichever is greater in aggregate value, by the first anniversary of regulatory approval.
Located in the West Kettle River valley in south-central British Columbia, the Arlington Property sits 17 kilometres north of Beaverdell and 65 kilometres south of Kelowna.
The property includes nine claims covering 3,583.89 hectares within the Greenwood Mining Division. Previous exploration at the property was done between the early 1970s and 1996 and then again from 2015 to 2021.
In the 2020-21 season, the Fresh Pots and Blockchain mineral claims were staked by Origen. Origen completed ground surveys on the Fresh Pots claims that included soil and rock-chip sampling, ground magnetic surveys and geological mapping.
Meanwhile 2,000 soil sample surveys were completed in 2021 and 2022 that showed strong gold anomaly 2,000 metres in a north-south direction and 1,000 metres in an east-west direction.
The company stated it is now planning to begin an initial exploration program that will entail detailed soil sampling, geological mapping, prospecting and trenching. This will be followed by six to seven 1,000-metre drill programs sometime this year.
Nickelex Resource is a resource company focused on exploration, administration and corporate development services for its operations.
Shares of Nickelex Resource Corp. (TSXV:NICK) are up 25 per cent to C$0.025 as of 10:20 am ET.
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