Goldeneye Resources has agreed to acquire three precious and base metal projects in Newfoundland, Canada, from Unity Resources.

The definitive agreements will see Goldeneye purchasing a 100% interest in mineral claims, including the Roberts Arm, Grand Lake and the Gander River Ultramafic Belt East (GRUBE) Project.

The deals follow the signing of two letter of intents (LoIs) between the two firms for the project that cover a total area of approximately 148km².

The financial terms of the deal were undisclosed.

Goldeneye CEO Jack Bal said: “We have worked hard to take the LOIs to definitive agreements. Newfoundland has gained a lot of attention with new high-grade gold discoveries such as the Keats Zone.

“Our GRUBE Project has geologic attributes similar to that area and we are excited to learn more about the project this field season. The Roberts Arm and Grand Lake Projects have proven targets to be followed up on for high-grade Copper and Gold.”

Goldeneye said it now plans to undertake work on all properties later this year.

The GRUBE Project covers geological terrain with the potential to host mineralisation in secondary and tertiary structures.

It is contiguous to the eastern side of the New Found Gold-operated Queensway Project. It straddles the Gander River Ultramafic Belt (GRUB).

Host to a past-producing Cu mine, the Roberts Arm Project has multiple historical grab samples with up to 2.27g/t Au and 4.56% Cu. It is contiguous and surrounded by Leocor Gold’s Western Exploit District Project.

According to the Newfoundland & Labrador Government Mineral occurrences data system, the property hosts eight historical Cu and Au mineral occurrences.

The Grand Lake Gold Project, which is located 7km south-west of the Glover Island Project, hosts a historical high-grade grab sample that assayed 1,234g/t Au.