Khalkos Exploration Inc.: Acquisition of the Deane-Cadillac property, Cadillac township
MONTREAL, QUEBEC--(Marketwired - Apr 25, 2017) - EXPLORATION KHALKOS. ("Khalkos") (TSX VENTURE:KAS) Management of Khalkos is pleased to announce the signing of an agreement giving the Company exclusive right to acquire 100% of the Deane-Cadillac property, owned by Globex Mining Enterprises Inc. ("Globex") (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF). To obtain 100% of this property's mining rights, Khalkos will need to issue 175,000 common shares and pay an amount of $10,000. Globex will keep a 2% "Gross Metal Royalty". The acquisition is conditional to the approval of the TSX Venture Exchange.
Deane-Cadillac is contiguous to the Malartic property of Khalkos. It is constituted of three claims covering an area of 143 hectares in the Cadillac township. This acquisition allows Khalkos to consolidate its strategic position in the Malartic mining camp. Note that the gold showing Deane-Cadillac (historical drilling: 3.43 g/t Au over 0.80 m and 19.50 g/t Au over 0.30 m), is located in the same sequence of sedimentary rocks as the Sediment Zone present on Khalkos' claims. Selected samples from this zone yielded gold grades up to 28.60 g/t while historical drilling undertaken in 1985 intersected up to 32.60 g/t Au over 2.40 m including 124.00 g/t Au over 0.70 m (see press release of October 5, 2016).
The company controls 100%, 85 continuous claims, in one of the most active gold mining camps in Canada.
Buyback of Royalties
Khalkos has obtained the approval letter of the TSX Venture Exchange for the buyback of royalties on its Forsan and Malartic Lakeshore properties and proceeded to the closing of the transactions, as described in the press release of March 23, 2017.
This press release was prepared by Robert Gagnon, President of Khalkos, Qualified Person pursuant to National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Khalkos Exploration Inc.
Robert Gagnon
President
(819) 825-2303
(514) 510-7964
rgagnon@khalkos.com
Khalkos Exploration Inc.
Christian Guilbaud
Corporate Development
(514) 813-7862
(514) 510-7964
cguilbaud@videotron.ca
www.khalkos.com
