X-Terra Resources Inc. said May 28 that it signed an agreement with Greg Exploration Inc. to acquire a 50% interest in the Storm Lake gold property in Quebec.
Storm Lake comprises 47 mining claims across approximately 2,556 hectares.
Under the terms, the company must complete one diamond drillhole totaling at least 300 meters on the property. The agreement also grants X-Terra a first right of refusal to acquire the remaining 50% interest in the claims.
X-Terra plans to undertake a drill program this summer to effectively test the magnetic anomaly recently identified on the property.
