Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: CASA; CASXF; 0CM

Company Options British Columbia Project to Further Exploration
News Update

Source:

The arrangement allows for additional investigation of this polymetallic property's prospectivity.

Casa Minerals Inc. (CASA:TSX.V; CASXF:OTCMKTS; 0CM:FSE) announced in a news release it signed an option agreement to allow a private company to explore Casa's 100%-owned Keaper polymetallic project in British Columbia in exchange for an earned interest in it. The project is located about 20 km north of Terrace, not far from Casa's flagship Pitman project.

"This agreement is entirely nondilutive for Casa shareholders," Casa President and CEO Farshad Shirvani said in the release. "It allows us to be carried in an aggressive exploration program on Keaper, furthering the successful work of the past several years."

"We are especially excited about following up on the recent surveys that returned high values for silver, zinc and copper. With a drill permit in place from late 2018, we look forward to an active season at Keaper," Shirvani added.

The company noted that rock and soil geochemical sample surveys at Keaper have returned assays as high as 3.93 g/t gold, 1,512 g/t silver, 9.90% copper and 13.9% zinc. The 2018 field program "confirmed and extended the property's 'Nelson' prospect and identified a new 'Lucky Crew' prospect area. The various mineralized prospects have been partially defined in an area that extends about 3.2 kilometers northwest-southeast."

"There are numerous strong targets at Keaper," said Shirvani. "The focus for 2019 will be refining the drill targets with the results of an airborne survey that is scheduled to be flown this winter. Following that we are encouraging our new partner to do further exploration such as drilling."

The agreement terms afford the private company the right to earn up to a 60% interest in Keaper over four years' time. To do so, it must spend an aggregate of $4 million on exploration there, pay an aggregate $550,000 to Casa and issue 2.5 million shares to Casa—all in tranches on a specific schedule. Both entities will share any exploration tax credits.

Should the project be advanced to commercial production, Casa would retain a 1.5% net smelter royalty, 0.5% of which the private company could purchase for $500,000.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Casa Minerals. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Casa Minerals, a company mentioned in this article.




Want to read more about Gold, Base Metals and Silver investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe