Bolt Metals buys BC copper/silver property
Exploration company Bolt Metals has entered into a definitive agreement to buy the Switchback copper/silver property in the Omineca mining division of British Columbia.
The Switchback property is an exploration-stage property located 55 km east of Terrace through forest service roads. The property consists of eight contiguous mineral claims totalling 2 560 ha and is prospective for volcanic redbed copper and polymetallic copper/silver/lead/zinc deposits.
Exploration to date, including mapping, sampling and drilling, has outlined significant anomalous areas and prospective targets.
Bolt will acquire the property by issuing four-million shares to the shareholders of 1436060 BC, as well as a cash payment of C$20-million on the execution of the definitive agreement.
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