Berkwood Resources Ltd. said June 5 that it signed an agreement with 1084422 B.C. Ltd. to acquire the Cobalt Ford property in Quebec, comprising 40 claims across 21.76 square kilometers.
The arm's length transaction requires the company to issue 2.4 million shares by way of a share exchange agreement and pay C$15,000. There are no royalties payable under the deal.
The property hosts three base metal showings, and previous rock sampling yielded cobalt values of 904.3 parts per million and 1,480 ppm.
Berkwood seeks to explore the property using till sampling and prospecting as part of its summer exploration program.