Sharpe gains Labrador claims

CDN-listed Sharpe Energy & Resources has acquired a 35% interest in 400 claims in southern Labrador.

The claims, which cover the 100-km-long Kyfanan Lake intrusion, are jointly held by Peruvian Gold (VSE) and Cartaway Resources (VSE). They are thought to be prospective for nickel-copper-cobalt sulphide deposits.

Peruvian and Cartaway have completed an airborne electromagnetic survey of the property, which revealed several anomalies. Ground geophysical surveying is under way to define the anomalies.

Sharpe acquired its interest in the Kyfanan Lake claims from a private syndicate for 70,000 Sharpe shares and a 1% net smelter return royalty.

Meanwhile, Sharpe is prepared to transfer into a new public company its interest in the Sukut gold-zinc-silver-copper property in Costa Rica and the Antone Canyon gold property in Nevada.

The new company will focus initially on Nevadan and Central American exploration and acquisition. Sharpe’s current financing is expected to raise $1.5 million, which is to be spent primarily on advancement of the Sukut and Antone Canyon projects, as well as other high-potential projects in those regions. Plans include exploration of the Antone Canyon property.

Sharpe will have a 60% interest in the new public company, which is expected to begin trading publicly in Canada in April.

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