Nov 24 2015
Management of EXPLORATION KHALKOS. ("Khalkos") is pleased to announce the acquisition of the full interest of four Golden Share properties in Quebec. The agreement allows Khalkos to obtain 100% of the mining rights of Malartic Lake Shore, Forsan and Lac Chevrier properties as well as 50% of the Blondeau-Guillet property held by Golden Share. In return, Khalkos will issue 1.5 million of its common shares to Golden Share.
Malartic Lake Shore Property: The Malartic Lake Shore property is adjacent to the Malartic property that Khalkos has an option agreement with J.A.G Mines Ltd (refer to press release June 22, 2015). It is constituted of 26 claims covering an area of 10 km2 in the Malartic county. The acquisition of this project allows Khalkos to consolidate its strategic position in the Malartic mining camp. The property is located at less than 5 km east of Lapa mine (Agnico Eagle) and at 6 km north of Malartic Canadian mine (Agnico Eagle-Yamana). The property is located in the Norbanite-Marbenite shear zone that is host to the Kiena mine and the former mines Norlartic and Marban (Niogold). High gold grades up to 123.5 g/t Au over 0.5 m were obtained in previous drillings.
Forsan Property: The Forsan property is located at less than 10 km from the Villebon property of Khalkos. It is composed of 50 claims covering an area of 8 km2. The property includes the FMZ zone which contains an inferred resource (43-101) of 35,000 ounces Au for 536,500 tons at 2.03 g/t Au calculated with a cut-off grade of 1.0 g/t Au. (reference: InnovExplo, 2009). In addition, a previous drill hole intersected 56.86 g/t Au over 4.0 m at 600 m south-east of the FMZ zone with no follow-up after. By acquiring this project, Khalkos becomes a major player in the East end of the Cadillac fault by owning 100% the Villebon and Forsan properties.
Belleterre Project: The project is formed by Blondeau-Guillet property that is comprised of 68 claims held in equal parts by Golden Share and Niogold as well as six other claims, known as Lac Chevrier, held 100% by Golden Share. It is located at 120 km south of the city Rouyn-Noranda and at 3 km north-west of Belleterre, Temiscamingue. It is located at 5 km west of the former mine Belleterre (960,000 ounces historical production) and at 2 km south-west of the former mine Aubelle (38,000 ounces historical production). Historical drill holes intersected values up to 51.4 g/t Au over 1.5 m. The acquisition of this project will allow Khalkos to own a more diversified gold portfolio as well as to become partner with one of the most active junior companies in Quebec.
Robert Gagnon, President and CEO of Khalkos states: ''With these strategic acquisitions, Khalkos confirms its mission to develop high-grade gold properties close to the surface and, within established mining camps, especially, the very active and world-class Malartic mining camp. Despite an unfavorable context for the majority of junior exploration companies, Khalkos takes advantage of this situation to gain favorable positions in recognized gold mining camps and this, without a prohibitive cost for the Company and its shareholders.''
The agreement is subject to approval of the TSX Venture Exchange. The properties are subject to a 1% royalty NSR (net smelter return) of which half (0.5%) is redeemable for each property for $ 500,000.