Toronto-based Citadel Gold Mines (TSE) has purchased all the outstanding shares of privately owned Jam-Can Resources for 1.45 million shares of Citadel at 15 cents per share.
Jam-Can holds three exclusive prospecting licences totalling 51 square miles on the Carribbean island of Jamaica. The most advanced property, the Hope mine concession, hosts known gold occurrences and a sulphide deposit with 80,000 tons of 10% lead and 8% zinc.
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