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Brownell Lake property consisting of three mineral dispositions covering 1,863.3 hectares located approximately 17 km northwest of Deschambault Lake, Saskatchewan. Upon the exercise of the option, the Company will own a 60% interest and Eagle Plains will own a 40% interest in the Brownell Lake property, and the parties will enter into a joint venture agreement to further explore and develop the property to bring it into commercial production. The Brownell Lake property is subject to a 2% net smelter returns royalty owing to Eagle Royalties Ltd.
Location
The Brownell Lake Property is host to regionally-sheared, highly-strained meta-volcanic rocks which are considered to be prospective for volcanogenic massive sulphide mineralization. A ground-based TDEM electromagnetic geophysical survey was completed to identify potential drill targets. The survey was successful in delineating EM conductors with characteristics consistent with VMS mineralization.