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.
- 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
- 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
- Transaction conditional upon Mont Royal gaining shareholder approval
at the upcoming annual general meeting.
Mont Royal Executive Director, Peter Ruse,/Public Release.