Vancouver – A long-term deal inked by Kennecott Exploration, part of the Rio Tinto (RTP-N) group and Geoinformatics Exploration (GXL-V) is expected to result in more exploration targets on Kennecott’s holdings in the Western Cordillera. Geoinformatics hopes to gain an edge through getting the inside track into some highly prospective ground in the region.
Oakville, Ont., – based Geoinformatics, with a fresh listing on the TSX venture exchange, specializes in generating three dimensional models from compilations of various survey data sets including geochemistry and geophysics.
The companies established a 27-year strategic alliance that gives Geoinformatics access to Kennecott’s databases and geochemical samples collected during the past 50 years in British Columbia, the Yukon and Alaska.
Geoinformatics has the exclusive right to access and review Kennecott’s advanced exploration properties in British Columbia and the Yukon. Within the first year, it must spend US$1 million to assess and acquire the properties it finds of interest. Geoinformatics can then earn a 100% interest, subject to certain back-in rights by Kennecott, by spending US$3 million over five years, on those properties it wishes to pursue further.
The second part of the agreement gives Geoinformatics the right to use Kennecott’s British Columbia and Yukon databases with the aim of generating a regional 3-D geodynamic model. The resulting model will be complete with ranked base and precious metal targets from which Kennecott has the first right to select.
Geoinformatics will be first in line for those targets that are not of interest to Kennecott.
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