Vancouver-based gold and copper miner Sanatana Re-sources has signed an agreement with Robert Laviolette and John der Weduwen to acquire a gold exploration property in Canada’s On-tario.
“Pursuant to the Agreement, Sanatana will acquire a 100% interest in the Enid property in the Timmins, Ontario region. The property comprises 41 mineral claims,” Sanatana Resources said in a state-ment.
“The Company will pay cash of $10,000; 30,000 common shares in the capital of the Company … and provide a 2% net smelter royalty,” the statement said. “Sanatana may purchase 1% of the NSR for $350,000 and a further 0.5% of the NSR for $500,000 at any time.”
The values are provided in Canadian dollars, with C$1 worth about US$0.79.
Sanatana Resources says it is a mineral exploration and develop-ment company. The miner is focused on high-impact properties in Canada, and listed on the TSX Venture Exchange, according to data from the business.