Hi-View Resources (CSE:HVW) has acquired a whole interest in the Harmon Peak Project to expand its mining claims in the Toodoggone district of British Columbia.
The company will pay C$10,000 cash and allot 200,000 shares to vendors for the 451.5-hectare tenement package.
Hi-View will be eligible to repurchase 1% of the net smelter return royalty from the vendor’s 2% stake for a one-time payment of C$1 million.
CEO Nick Horsley describes the project to be an “exceptional” addition to the company’s existing claims in the Toodoggone area.
“We already had two showings under option that are contiguous, making Harmon Peak a 505-hectare block,” Horsley says.
“Historic work has outlined a robust mineralized system, with strong copper, gold and silver anomalies coincident with QSP alteration.
“Despite this encouraging footprint, the area has seen minimal modern exploration, presenting a significant opportunity to define new drill-ready targets within a proven and highly prospective district.”
The project is considered prospective for multi-commodity exploration, containing gold-silver epithermal and copper-gold-silver-molybdenum porphyry, just 14km northeast of Sun Summit’s (TSX-V:SMN) JD Project.
Although located in a highly active exploration camp in Canada, the project faced limited exploration, with the most recent being conducted by TDG Gold (TSX-V:TDG).
TDG completed a precise geophysics campaign comprising airborne magnetic and radiometric surveys towards the northwest of the project.
Data revealed to be consistent with exploration conducted by Stealth Minerals in 2005, highlighting over 1% copper and 0.965 parts per million gold.
Hi-View Resources is a Canadian mineral explorer focused on advancing its portfolio of gold, silver, and copper assets in the Toodoggone district.
Write to Maddison Elliott at Mining.com.au
Images: Hi-View Resources
