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Pivit Exploration acquiring Whirlwind Jack gold project in Ontario

Pivit Exploration Inc. said Sept. 10 that it inked a binding memorandum of understanding to acquire privately held Pinot Gold Inc., which owns the Whirlwind Jack gold project in Ontario.

The district-scale project, comprising 613 mining claims across 12,382 hectares, lies adjacent to and on-trend with Great Bear Resources Ltd.'s Dixie Lake gold project.

Pivit is required to pay C$75,000 and issue 8 million shares, as well as grant a 2% gross royalty on the project. The acquisition will be completed via a three-cornered amalgamation.