Kiska MetalsCorp. said July 6 that it has entered into a definitive agreementallowing Aben ResourcesLtd. to earn 100% interest in Kiska's gold-copper-lead-zincproperty in British Columbia's Golden Triangle.
The tenement will add significantly to Aben's Forrest Kerrgold project, which will comprise 23,000 hectares it is securing via threeoption agreements.
Aben will pay Kiska an initial 1.5 million common shares,another 1.5 million shares to be issued on the first anniversary of theagreement and a further 1 million common shares a year after that. Aben alsohas to incur at least C$3 million on expenditures on the mineral claimscomprising the Forrest Kerr project, with at least C$1 million of this to bespent on the RDN property on or before June 30, 2020.
Kiska will retain a 1.3% net smelter royalty on the propertyand will also have the right to nominate one representative to Aben's board.
The RDN property hosts multiple precious metal VMS andepithermal showings over a strike of more than 20 kilometers in the GoldenTriangle. Shallow drilling at the site in the 1990s returned results such as101.0 g/t of gold over 1.95 meters and 137.8 g/t of gold over 0.85 meter.
The Forrest Kerr project also hosts multiple VMS andepithermal prospects over a 40 kilometer strike.