An option agreement sets the stage for Mountain Lake Resources (MOA-V) to acquire a property in the Bathurst mining district of New Brunswick.
The vendor will retain a 2% net smelter return royalty and be paid $10,000 or 20,000 shares of Mountain Lake.
The property covers an intrusive lens measuring 4 km long by 500 metres wide.
This lens consists of gabbronorite, norite and gabrro, which host massive pyrrhotite-chalcopyrite-pentlandite mineralization.
An exploration program will include geological mapping, geophysics and diamond drilling.
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