To acquire the stake, and attain full ownership, Cancor will issue 100,000 shares and grant Aur a 2% net smelter return royalty on production from the property.
The 125-claim project is in Laberge and Casa-Berardi twps., south of
Gemini hosts two massive sulphide lenses — the B zone, to the south, and the A zone, to the north. One of the lenses is rich in zinc; the other is rich in copper.
The Zone B lens is rich in zinc. It hosts an indicated resource totalling 668,940 tonnes grading 6.75% zinc, 0.45% copper and 0.58% lead, plus 1.75 grams gold and 114.3 grams silver per tonne. In addition, 622,715 tonnes running 2.98% zinc, 0.71% copper, 0.43% lead, 1.26 grams gold and 60.6 grams silver are classified as inferred.
The copper-bearing A lens contains an inferred resource of 721,310 tonnes grading 1.69% copper, 0.23% zinc, 1.22 grams gold and 54.4 grams silver.
Cancor plans to take on a partner to help explore its large land package in the area.
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