Augmitto Explorations (TSE) has acquired an option to earn a 51% interest in the Bazooka property, adjacent to the western boundary of Augmitto’s gold property near Rouyn, Que.
Under the terms of the agreement, Augmitto can earn its interest by paying $50,000 and 300,000 shares to Ressources Minieres Forbex (ME) and spending $1.5 million on exploration over a 3-year period.
Consisting of 800 acres, the Bazooka property is on strike with mineralized zones being readied for production on Augmitto’s adjacent claims. A 1,000-ton-per-day mill is under construction.
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