Posted in | News | Gold | Mining Business

Amseco to Acquire Brosnor Gold Property from Upper Canyon

Amseco Exploration Ltée. and Upper Canyon Minerals Corp. are pleased to announce that they have entered into an agreement ("the Agreement") pursuant to which Amseco will acquire from Upper Canyon a total of 18 mineral claims totaling 922,8 hectares, collectively known as the Brosnor Gold.

This Property is located 30 km east of the town of Val d'Or in the Province of Quebec, neighboring the Monique deposit owned by Richmont Mines Inc. Upon execution of the Agreement, Amseco will issue one million shares plus an additional $50 000 worth of shares to be issued on December 1st at the closing market price (with a minimum permitted of 5 cents per share), as well as $354 000 in cash to be paid over a 6 month period to Upper Canyon and a third party drilling company not related to Amseco.

The Brosnor Gold Property is a mining site with access to excellent infrastructure, electricity, Québec Route 117 and water. The property hosts gold bearing structures, striking east-west, in which quartz-pyrite-tourmaline veins, concentrated in more competent rock units carry gold values in various amounts. The technical information, including historical and current resources of Upper Canyon, are being reviewed and will be summarized in a forthcoming news release.

The Brosnor Property is comprised of three zones (Adelemont, Norcourt and Bermont) in which prominent anomalies were outlined. In 1986, a 680 meters decline (Ramp) was completed to provide access for drilling into the Norcourt zone. Subject to a positive economic analysis, Amseco's main objective is to put this zone into production as soon as possible.

Drilling by Upper Canyon between 2008 and 2011 confirmed and expanded on past successes in terms of gold occurrences. Upper Canyon has completed 14 holes on Adelemont, 15 holes at Norcourt and 7 holes at Bermont. Amseco will provide a technicaI report explaining in details the content of each zone.

In early 2012, Upper Canyon encountered some difficulties and left untested cores on the property and many samples at the laboratory. Amseco's first task will be to process, analyze and review all drill cores from Upper Canyon's last drilling campaign.

Amseco plans to investigate the potential of custom milling some bulk sample and future underground ore. Although there is no agreement with any mill at this time, many are located within the Val d'Or area: Camflo mill, Beacon mill, Alexis minerals mill and others.

Source: http://www.amsecoexploration.com/

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Amseco Exploration Ltd.. (2019, February 18). Amseco to Acquire Brosnor Gold Property from Upper Canyon. AZoMining. Retrieved on February 27, 2024 from https://www.azomining.com/News.aspx?newsID=7384.

  • MLA

    Amseco Exploration Ltd.. "Amseco to Acquire Brosnor Gold Property from Upper Canyon". AZoMining. 27 February 2024. <https://www.azomining.com/News.aspx?newsID=7384>.

  • Chicago

    Amseco Exploration Ltd.. "Amseco to Acquire Brosnor Gold Property from Upper Canyon". AZoMining. https://www.azomining.com/News.aspx?newsID=7384. (accessed February 27, 2024).

  • Harvard

    Amseco Exploration Ltd.. 2019. Amseco to Acquire Brosnor Gold Property from Upper Canyon. AZoMining, viewed 27 February 2024, https://www.azomining.com/News.aspx?newsID=7384.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.