Core Viewpoint - Metalsource Mining Inc. has entered into a definitive option agreement with Goldstrike Minerals, LLC to acquire 100% of Goldstrike's rights and interests in certain mineral lease agreements and exploration licenses in North Carolina, which is seen as a transformational acquisition for the company [1][8]. Summary of Transaction - The option agreement allows Metalsource to acquire the rights by paying a total of $250,000 and issuing 15,000,000 common shares over two years, with the option to accelerate the transaction [3]. - Metalsource is committed to investing $1,000,000 in exploration and development of the mineral interests over the same period, while retaining exclusive management rights over the projects [4]. - The completion of the transaction is subject to conditions including due diligence, board approvals, and raising at least $2,000,000 through a private placement within 120 days [5]. Project Details - The Silver Hill Project consists of 1,128 acres in Davidson County, known for its historic silver production, with significant mineralization potential indicated by recent sampling results [6][9]. - The Byrd-Pilot Mountain Project spans 1,032 acres in Randolph County, showing potential for a gold-copper porphyry system with previous exploration indicating broad mineralization [11]. Historical Estimates - A historical estimate for the Silver Hill Project suggests the presence of 347,422 tonnes grading 23.7 g/t silver and 2.17 g/t gold, although this estimate has not been classified as current mineral resources [10]. Management and Expertise - The acquisition is supported by the expertise of Tom and his team, who have extensive knowledge of the properties and the North Carolina jurisdiction, providing a strong foundation for future exploration [8].
Metalsource Mining Announces Transformational Acquisition that Delivers Silver Expansion and Gold Potential in a top U.S. Jurisdiction
Globenewswireยท2025-09-12 10:00