Renforth ResourcesInc. said April 26 that it has negotiated the acquisition of a 100%stake in the Nixon-Bartlemangold project in Ontario in exchange for 3 million common Renforth shares and theissuance of a 0.5% net smelter royalty to the vendor.
The purchase replaces the prior option Renforth held on the property,which is subject to a pre-existing 2% NSR.
Nixon-Bartleman is comprised of four patents and 15 claims, coveringan area of 313 hectares. Renforth's initial field campaign at the property in September2014 found 22.1 g/t of gold in a 0.3-meter channel sample within a larger 0.6-meterchannel, which returned an assay of 13 g/t of gold outside of the property's historicarea of interest.
According to the company, the Nixon-Bartleman property has severalareas of future focus apart from the main surface gold-bearing Nixon-Bartleman showingas several geophysical and geochemical anomalies were historically delineated buthave not yet been tested.
The Nixon-Bartleman property acquisition remains subject to boardand regulatory approvals, as required.