Abitibi Metals Secures (OTC:AMQFF) Complete Ownership of Key Project
The acquisition of new properties is a major aspect of major mineral exploration companies, and on Thursday it was Abitibi Metals Corp. (OTCQB: AMQFF) that made an announcement to that effect. The company was in sharp focus after it announced that it had completed the transaction to take up a 100% stake in the Beschefer Property.
The Deal
In the news release yesterday, Abitibi Metals Corp. announced that it met the obligations in the property option agreement that it had entered with Wallbridge Mining Company Limited in 2021. Consequently, the company earned the 100% right, interest, and title in the above-mentioned property. The property in question was described as a mature gold exploration property made up of 7 claims and with an expanse of as much as 962 acres. The property is situated in the Northern Abitibi Greenstone Belt in the province of Quebec, Canada.
Further Information
The company also stated yesterday that the acquisition of the 100% stake in the property was a major milestone for Abitibi Metals Corp. It also helped in reiterating the company’s commitment to the advancement of high-quality exploration assets in the region.
CEO Quote
Jonathon Deluce, President and CEO of Abitibi, commented, “Securing 100% ownership of the Beschefer Gold Project is a significant milestone for Abitibi Metals, reinforcing our commitment to advancing high-quality exploration assets in the Abitibi Greenstone Belt. The Beschefer Project has consistently delivered impressive high-grade gold intercepts such as 55.63 g/t Au over 5.57 m, demonstrating strong near-term resource potential in a well-established orogenic gold setting. With its proximity to our B26 deposit and other key regional projects, Beschefer represents a strategic growth opportunity for the company. We look forward to further advancing exploration efforts and unlocking the full value of this asset for our shareholders.”
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