Under the agreement with the numbered company 4763 NWT, Tyler and Northern Abitibi can earn their interest by assuming all staking costs and issuing 250,000 shares each over four years. The two must also commit to spending about $1.1 million on work over four years.
The property is subject to a 2.5% gross overriding royalty. Tyler would act as operator during the initial earn-in period.
The property is in the north Slave Craton region, 15 km east of Ashton Mining of Canada’s Perseus kimberlite.
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