Le Mare Gold Corp. said March 12 that it agreed to acquire 12 claims covering 2,677.24 hectares, to be named the Le Mare project, in British Columbia.
As payment, the company will issue 5 million shares and pay C$50,000 to the vendor. In addition, it must incur C$100,000 in expenditures on the property by Sept. 21, 2022.
An underlying 3% net smelter returns royalty will be retained by one of the parties from which the vendor acquired the property.
Le Mare is prospective for gold and copper, and the company plans to launch an initial two-phased program, including diamond drilling, on the property.
