Touchdown Capital Options BC Gold Propertyadmin
Touchdown Capital Inc. announce that it has entered into an Agreement of Purchase and Sale (the “Agreement”) with an Arm’s Length Party (the “Arm’s Length Party”) to purchase a 100% interest, subject to a 2% NSR Royalty, on 15 mineral claims totalling 5916.3362 hectares located in the Caribou Mining Division in the Province of British Columbia (the “Property”).
The fifteen claim blocks lie northwest of, and contiguous to the International Wayside Gold Mines Ltd.’s (WYG.V) “Bonanza Ledge” property in the Barkerville Gold District. The properties are situated on the same trend as Wells and Barkerville Mineral Belt, which is the same belt the Bonanza Ledge is located on. There are numerous logging roads throughout the fifteen claim blocks for ease of access.
Recent drilling activity in the Barkerville area by International Wayside has returned spectacular gold values over long intercepts, including 84.4 meters (277 feet) of 16.5 g/tonne (0.481 oz/ton) gold and 37.5 meters 123.1 feet) of 36.1 g/tonne (1.052 oz/ton) gold.
Pursuant to the terms of the Agreement, the Company is obligated to make staged cash payments totalling $60,000 and the issuance of 1,200,000 common shares to the Arm’s Length Party, subject to regulatory approval.