THIS IS NOT CANNON ITS ANOTHER COMPANY."We are very enthusiastic about this new partnership with SOQUEM to advance the Kwyjibo IOCG property" stated Marco Gagnon, President of Focus Metals. "We believe the Kwyjibo Property has a very strong potential for the discovery of a world class IOCG orebody in the short term. Exploration work, including mapping & prospecting, metallurgical testing, diamond drilling, and a 43-101 technical report will be carried out on the Property within 18 months" added Mr. Gagnon.
The Agreement
Under the terms of the Agreement, Focus Metals may acquire a 50% interest in SOQUEM's Kwyjibo REE-Cu property, by spending up to $3M in exploration work on the property over a period of five (5) years of which $1M must be spent during the first two (2) years.
SOQUEM will act as the operator for all exploration carried out on the property for the first two years of the option period or until the first $1M in exploration work expenditures have been spent. Focus will then have the option to become operator by paying $50,000 in cash or issuing a block of common shares valued at $50,000.
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