Jane Morgan Management
Mont Royal Resources Limited ("Mont Royal", the "Company") (ASX:MRZ) is
pleased to announce that the Company has entered into a binding JV option
agreement ("Agreement") with Azimut Exploration Inc. ("Azimut") (TSXV: AZM),
to earn-in up to 70% of the Wapatik Gold-Copper Project ("Project"), located in
James Bay area, a tier 1 mining jurisdiction of Quebec, Canada.
Highlights
- Located in world class, mining-friendly jurisdiction of Quebec, Canada.
- Mont Royal can earn up to 70% of the Wapatik Gold-Copper project.
- 220 claims totalling 115sq/km in continuous tenure.
- Underexplored with highly limited modern exploration.
- Located over the lower Eastmain greenstone belt, part of the Archean Superior Province.
- Geological formation which hosts Azimut's Elmer project extends east to west associated with high magnetic/iron formations.
- A linear scale fault has been interpreted as striking from Elmer property into the Project (west-to-east).
- Five faults identified on the eastern side of the property.
- The transaction will enable Mont Royal to deploy its cash position via the earn-in partnership arrangement, whilst leveraging off Azimut's strong technical exploration team, to unlock the full potential of the Wapatik project.
- Transaction conditional upon Mont Royal gaining shareholder approval at the upcoming annual general meeting.
Mont Royal Executive Director, Peter Ruse,
/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).
