By agreement dated November 20, 2020, Strategic granted Cypress Hills Resources Corp. (“Cypress”) an option to acquire an 80% interest in the Saloon property. Cypress can exercise the option by making aggregate payments of $155,000 by January 5, 2025, issuing 25,000 shares and incurring aggregate exploration expenditures of $2,600,000 by November 20, 2024.
- Drill-validated copper-gold-silver (VMS?) prospect
- Stacked mineralized intervals include 0.40% copper and 128.46 g/t silver over 30.23 m
- Rock samples from dumps below historical underground workings assayed up to 10.37 % copper and 44.57 g/t gold
- Recent soil geochemistry and prospecting have outlined a 1.8 km belt extending from the Stampede Zone through the underground workings and other showings further north
- Fully permitted for large drill program