Baie Comeau Property
On January 21, 2015 the Company optioned a 100% interest in the Forestville and Baie Comeau Quartzite properties (the “Properties”). The Forestville Quartzite property is located 20 kilometres north-northwest of the town of Forestville, Quebec. The Baie Comeau Quartzite property is 8 kilometres northwest of Baie Comeau, Quebec, and partially crosses highway 389. The properties have been optioned for the purpose of testing the chemical and physical properties of the quartzite as a potential raw material for use in products such as: high purity glass, fibre optics, ferrosilicon and silica metal. To acquire 100% of the Properties, the Company will: i) pay to the Optionor 500,000 shares on the date of acceptance of the TSX Venture Exchange (the “Exchange Approval Date”) (paid); ii) pay $6,000 on the Exchange Approval Date; iii) pay $100,000 in shares on or before January 21, 2016 (issued 2,000,000 shares at a price of $0.05 per share); iv) pay $50,000 in shares on or before July 21, 2016; and v) incur $60,000 of exploration expenditures on the Forestville Quartzite Property on or before December 31, 2015 (incurred). The Optionee shall be responsible for keeping the Properties in good standing including the filing of required assessment work and completing regulatory work expenditures or making cash payments in lieu of work 120 days before required under the rules of the jurisdiction.
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Download GM10368 1960 Geological Report of Quartzite Deposit Baie-Comeau
