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First Legacy Mining acquires 3 mineral claims in Canada

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Essential Metals & Mining Insights - August 2020

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First Legacy Mining acquires 3 mineral claims in Canada

First Legacy Mining Corp. said Aug. 31 that it acquired three mineral claims in Saskatchewan from three arm's-length vendors.

The property, dubbed the Geiger North project, comprises approximately 1,232.9 hectares about 35 kilometers northwest of the McClean Lake uranium mine and mill in Athabasca Basin.

First Legacy Mining is issuing 3,000,000 common shares and paying C$7,500 in cash to the vendors. The vendors will retain a 2.0% net smelter royalty, half of which First Legacy Mining can buy back for C$1 million.

The company also intends to perform a detailed soil sampling program at the Lac Burge gold project to follow up this year's summer geophysical program. The soil sampling will focus on the Rochon Showing, where anomalous copper values were encountered in a 2016 short hole drilling program.