Deals this week: Wolfden, Gold Bullion, Cornerstone

16 April 2015 (Last Updated April 16th, 2015 18:30)

Wolfden Resources and Votorantim Metals Canada have extended the exclusivity period from 9 to 30 April for the company to acquire a 65% interest in the Murray Brook project from Votorantim.

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Wolfden Resources and Votorantim Metals Canada have extended the exclusivity period from 9 to 30 April for the company to acquire a 65% interest in the Murray Brook project from Votorantim.

The Murray Brook project is located in the Bathurst Mining Camp in New Brunswick.

The mineral exploration company Wolfden has a dominant, 20,000ha land position in the heart of the Bathurst Mining Camp in New Brunswick.

Radius Gold has purchased a 2% royalty from Focus Ventures' 70% interest in future phosphate production from the Bayovar 12 concession for $1m.

Focus has a one-year period where it may buy-back half of the royalty for $1m, under the terms of the purchase agreement.

The company also has first right of refusal, if Radius decides to sell any of its interest in the future.

Gold Bullion Development and Takara Resources have signed an agreement for Takara to acquire certain properties of Gold Bullion situated in Ontario, through the acquisition of Gold Bullion's wholly owned subsidiary, Castle Silver Mines (CSM).

Currently, CSM owns 100% of the 3,300ha Castle Silver Mine property.

As per the agreement, Takara will acquire all of the issued and outstanding common shares of CSM from Gold Bullion in exchange for 10 million units of Takara issued in equal stages of 2.5 million over a four-year period.

Vanstar Mining Resources has acquired six additional claim units for the expansion of the Nelligan project, which is located near Chapais, Northern Québec, under option by IAMGOLD.

The newly staked ground, which is not included within and under the terms of the options, is contiguous to the existing property.

Vanstar also terminated the option agreement between the company and Golden Shares Mining dated 8 April 2014.

Cornerstone Capital Resources has signed a letter of intent with Ecuador's State Mining Company to explore new prospective gold and copper properties jointly.

Exploration will be carried out using Cornerstone's proprietary geological data base gathered in Ecuador since 2005.

Under the terms of the arrangement, Cornerstone will identify geologically prospective areas covering 5,000ha to 50,000ha in parts of Ecuador that are currently off-limits to application by private companies.


Image: Several deals were signed this week. Photo: courtesy of stockimages/FreeDigitalPhotos.net.