Lacana Mining Corp. has optioned a 48-claim silver-lead-zinc property in New Brunswick’s Millstream River area 20 mi west of Bathurst owned 60% by North American Rare Metals and 40% by Mistango Consolidated Resources.
Under the terms of this agreement Lacana must spend a minimum of $100,000 this year, with an option to spend a minimum of $200,00 in the second year and a payment of $17,500 to earn a 70% interest in the property.
The vendor companies would then have the right to participate for a 30% interest or take a 20% net profit interest.
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