Junior RJK Explorations (ASE) has agreed to acquire a gold concession along the Gurupi trend in Brazil in exchange for US$450,000 cash.
Gold mineralization within the 10,000-hectare concession appears to be both stratabound and quartz-vein-hosted, says RJK.
Results of soil sampling at the northern end of the property indicate a 2-km-long anomalous zone ranging from 200 to 400 metres wide.
The agreement, which has yet to be approved by regulators, includes a 2% net smelter return royalty.
Cash bonuses ranging from US$900,000 to US$4.4 million are also payable, upon RJK establishing an “economically exploitable” mineral reserve.
RJK also has diamond properties in Canada as well as properties in Labrador.
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