Terms of the Agreement
Capstone has paid SQM US$1million upon signing and will immediately commission a high resolution, combined magnetic and radiometric airborne survey over the block. Both surveys will be useful in providing a basic geological framework from which to start exploration but the magnetic survey will be particularly useful in identifying anomalies of interest since the principal target is a magnetite rich IOCG deposit, similar to Santo Domingo.
Capstone will be the operator of the project and may earn up to a 70% interest in the Property over 7.5 years in incremental steps by spending on exploration and land holding costs. There are three options that may be exercised at Capstone's sole discretion. At any time during the term of the agreement, Capstone has the right to withdraw from the project, whereby the agreement will terminate and management of the project will return to SQM.
About Capstone Mining Corp. Capstone Mining Corp. is a Canadian base metals mining company, committed to the responsible development of our assets and the environments in which we operate. We are preferentially focused on copper, with two producing copper mines, the Cozamin copper-silver-zinc-lead mine located in Zacatecas State, Mexico and the Minto copper-gold-silver mine in Yukon, Canada. In addition, Capstone has two development projects, the large scale 70% owned Santo Domingo copper-iron-gold project in Chile in partnership with Korea Resources Corporation and the 100% owned Kutcho copper-zinc-gold-silver project in British Columbia, as well as exploration properties in Canada, Chile, Mexico and Australia. Using our cash flow and strong balance sheet as a springboard, Capstone aims to grow with continued mineral resource and reserve expansions, exploration, and through acquisitions in politically stable, mining-friendly regions. Our headquarters are in Vancouver, Canada and we are listed on the TSX. Further information is available at www.capstonemining.com.Cautionary Note Regarding Forward-Looking Information This document may contain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). These forward-looking statements are made as of the date of this document and Capstone Mining Corp. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts