Lowell Copper and Minaurum Execute Definitive Option Agreement
March 25 2014 - 12:11PM
Marketwired
Lowell Copper and Minaurum Execute Definitive Option Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 25, 2014) -
Lowell Copper Ltd. (TSX-VENTURE:JDL) ("Lowell Copper") and Minaurum
Gold Inc. (TSX-VENTURE:MGG) ("Minaurum") are pleased to announce
that further to their previously announced binding letter agreement
which, among other things, granted an option (the "Option") on
Minaurum's Santa Marta VMS project in Oaxaca Mexico (the
"Project"), the parties have executed a definitive option agreement
(the "Option Agreement").
Pursuant to the Option Agreement, Lowell Copper can acquire up
to a 70% interest in the Project in exchange for funding work
expenditures and delivering a prefeasibility study. Minaurum holds
an option to acquire a 100% interest in the Project pursuant to an
option agreement with the property owner.
Under the Option Agreement Minaurum will act as the operator on
the Project, at Lowell Copper's direction, through the first
$2,000,000 of expenditures to be funded by Lowell Copper.
Chairman and CEO of Lowell Copper, David Lowell commented, "We
are pleased to have signed this agreement with Minaurum and can now
commence testing the potential of the Santa Marta project. Santa
Marta has a number of early geological indicators leading us to
believe it could be a significant VMS deposit."
Santa Marta
Project
The 7,310 hectare Santa Marta VMS project is located in Oaxaca
State, Mexico. Infrastructure is good with a paved highway, power
lines and water nearby. Minaurum has carried out airborne
geophysics (VTEM), reconnaissance stream-sediment sampling and
geological mapping.
About Lowell Copper
Lowell Copper is a copper exploration and development focused
company led by J. David Lowell and is listed on the TSX-V. The
Company was founded to leverage the current market conditions and
build a portfolio of economic copper projects through a combination
of exploration, mergers and acquisitions by utilizing the
considerable experience and success of management and directors of
the Company.
About Minaurum
Minaurum Gold is a gold-copper explorer focused on its Vuelcos
del Destino project in the Guerrero Gold Belt, Mexico. For more
information, please visit Minaurum's website at www.minaurum.com
and our YouTube Minaurum Video Channel
(http://www.youtube.com/user/minaurumgold).
NEITHER THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACEY OR
ACCURACY OF THIS RELEASE.
Forward-Looking Statements
This release contains certain "forward looking statements" and
certain "forward-looking information" as defined under applicable
Canadian and U.S. securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans"
or similar terminology. Forward-looking statements and information
include, but are not limited to, statements with respect to the
transactions contemplated under the Option and any proposed
exploration activities and their timing and potential
mineralization. Forward-looking statements and information are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Lowell Copper to control or predict, that may cause
Lowell Copper's actual results, performance or achievements may be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out here in, including but not limited to:
risks and uncertainties related to the Option not being completed
in the event that the conditions precedent thereto are not
satisfied; the inherent risks involved in the exploration and
development of mineral properties; the uncertainties involved in
interpreting exploration data; the potential for delays in
exploration or development activities; the geology, grade and
continuity of mineral deposits; the possibility that future
exploration, development or mining results will not be consistent
with the either company's expectations; accidents, equipment
breakdowns, title matters, labor disputes or other unanticipated
difficulties or interruptions in operations; fluctuating metal
prices; unanticipated costs and expenses; uncertainties relating to
the availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions,
including environmental regulatory restrictions; liability,
competition, loss of key employees and other related risks and
uncertainties. Lowell Copper does not undertake an obligation to
update forward-looking information except as required by applicable
law. Such forward-looking information represents management's best
judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements or
information.
Lowell Copper Ltd.Marcel de GrootPresident(604) 628-1102(604)
688-0094Minaurum Gold Inc.Darrell RaderPresident & CEO(778)
330-0994info@minaurum.com
Minaurum Gold (TSXV:MGG)
Historical Stock Chart
From Dec 2024 to Jan 2025
Minaurum Gold (TSXV:MGG)
Historical Stock Chart
From Jan 2024 to Jan 2025