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Sirios Signs an Option Agreement for its Maskwa Property21.12.2023 | 15:00 Uhr | GlobeNewswire
MONTREAL, Dec. 21, 2023 - Management of Sirios Resources Inc. (TSX-V: SOI, OTCQB:SIREF) ("Sirios") is pleased to announce the signing of an option agreement on the Maskwa property located in Eeyou Istchee James Bay in Quebec, with Hertz Lithium Inc. ("Hertz") (CSE: HZ). Pursuant to the agreement, Sirios has agreed to grant Hertz the option to acquire up to a 100% interest in the lithium/gold property, following an investment totaling $2.55M as described below. If the option is completed, Sirios will retain a 1.5% NSR royalty. In addition, Sirios will keep the right to buy back 100% of the mining rights on the non-critical minerals, which comprise among other metals, gold, silver and PGE (Platinum Group Elements) and tungsten, by paying back to Hertz its incurred exploration expenditures capped to a maximum of $2M. Pursuant to the agreement, Hertz can earn 100 percent interest in Maskwa over three years by spending a total of $2.25 million in mineral exploration expenditures, by making a cash payment on or before the first anniversary of $100,000 plus $100,000 in cash or in shares plus $100,000 in cash on closing. In addition, Sirios will receive a payment of $250,000 either in cash or in shares upon the successful confirmation of drilling results indicating a lithium concentration of one percent (1%) Li2O or more over a minimum of twenty-five (25) metres. About Sirios Cautionary Note Regarding Forward-Looking Statements 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: Dieser Artikel stammt von Rohstoff-Welt.de
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