The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Rockhaven Resources Ltd. July 14 reported the addition of 868 mineral claims to its Klaza gold-silver property in southern Yukon Territory.
This major expansion is the result of four separate agreements, including a property exchanged with Strategic Metals Ltd., Rockhaven's largest shareholder.
In exchange for five Strategic properties adjacent to or near Klaza (BBB, Sked-Desk, Dade, Queen and Nor), Rockhaven has agreed to transfer five of its distal Yukon properties (Plata, Mount Hinton-Gram, Groundhog-Grayling-Cyr, Zap and Kluane-Ellias).
In addition to the properties, Strategic will pay Rockhaven C$250,000 in cash.
The exchange of property packages provides both companies with longer term benefits that did not exist prior to the exchange.
Considered a related-party transaction, the exchange will require minority approval from shareholders of both Rockhaven and Strategic at their annual general and special meetings to be held later this summer.
In addition to the claims acquired from Strategic, Rockhaven acquired three claim groups from third-party vendors.
Rockhaven has signed a property purchase agreement to acquire 116 mineral claims immediately adjoining the southern boundary of the Klaza property.
With the C$250,000 from Strategic, Rockhaven is able to acquire full ownership of the Rusk property, a group 116 claims adjacent to the south of Klaza, and acquire the Krast property, 32 claims immediately east of Klaza.
Additionally, Rockhaven has fully exercised an option to acquire the Val claims through the issuance of 118,047 Rockhaven shares to the property vendor.
"Securing a much larger land position in the district is important for both continued exploration and logistical purposes, as Rockhaven advances the Klaza deposit toward development," explained Rockhaven CEO Matt Turner.
The Klaza property hosts 7.04 metric tons of inferred resources averaging 4.19 grams per metric ton (948,348 ounces) gold and 96.23 g/t (21,780,313 oz) silver.
A 15,000-meter drill program designed to expand this resource is currently underway.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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