Posted in | Gold | Mining Business

Khalkos Inks Agreement to Acquire 100% of the Deane-Cadillac Property

EXPLORATION KHALKOS. Management of Khalkos is pleased to announce the signing of an agreement giving the Company exclusive right to acquire 100% of the Deane-Cadillac property, owned by Globex Mining Enterprises Inc..

To obtain 100% of this property's mining rights, Khalkos will need to issue 175,000 common shares and pay an amount of $10,000. Globex will keep a 2% "Gross Metal Royalty". The acquisition is conditional to the approval of the TSX Venture Exchange.

Deane-Cadillac is contiguous to the Malartic property of Khalkos. It is constituted of three claims covering an area of 143 hectares in the Cadillac township. This acquisition allows Khalkos to consolidate its strategic position in the Malartic mining camp. Note that the gold showing Deane-Cadillac (historical drilling: 3.43 g/t Au over 0.80 m and 19.50 g/t Au over 0.30 m), is located in the same sequence of sedimentary rocks as the Sediment Zone present on Khalkos' claims. Selected samples from this zone yielded gold grades up to 28.60 g/t while historical drilling undertaken in 1985 intersected up to 32.60 g/t Au over 2.40 m including 124.00 g/t Au over 0.70 m (see press release of October 5, 2016).

The company controls 100%, 85 continuous claims, in one of the most active gold mining camps in Canada.

Source: http://www.khalkos.com/

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