Vancouver — With the price of tungsten and tantalum heating up, Copper Ridge Explorations (KRX-V) has inked a deal to pick up the Kalzas property in the Yukon Territory.
The junior can earn a 100% stake in the property by spending $300,000 on exploration, making a cash payment of $75,000 and issuing 200,000 shares over four and a half years.
The vendors retain a 2% net smelter royalty and will receive an additional 200,000 shares when a production decision is made.
Kalzas was tested by two drill holes in the early 1980s. Hole 2 intersected 0.06% tantalum oxide and 0.17% tungsten trioxide over 18.2 metres and 0.07% tantalum oxide and 0.1% tungsten trioxide over 33 metres.
The holes are located within a tungsten trioxide-in-soil geochemical anomaly which measures 1.5 km by 400 metres.
Mineralization is hosted in wolframite and tourmaline-bearing quartz stockwork and a sheeted vein complex.
Prior to drill-testing, Copper Ridge plans to launch a mapping and confirmation sampling program.
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