Yorbeau Resources Inc. said Dec. 12 that it secured an option to acquire the zinc-prospective KB property in Quebec from private firm Les Ressources Tectonic.
The KB property comprises 30 claims covering 16.7 square kilometers in the eastern limit of the Abitibi belt.
Yorbeau is required to pay a total of C$200,000 and spend C$750,000 on exploration over a three-year period to acquire the project. Except for an initial C$30,000 payment already made upon signing and the first C$150,000 in exploration expenditures, all payments and expenditures are optional.
Tectonic would retain a 1% net smelter return production royalty, which Yorbeau can repurchase at any time for C$1.5 million.
The company plans to launch an exploration program on the property in the first quarter of 2018.
