Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Vulcan Minerals Acquires Claims At Red Cross Lake Project

Vulcan Minerals Inc. (TSXV:VUL) (OTC:VULMF) has purchased a 100% interest in twenty mineral claims from a prospector at Red Cross Lake in central Newfoundland.

These claims are adjacent to Vulcan's existing Red Cross Lake property.

The claims are being purchased for C$10,000 in cash and 100,000 common shares, subject to TSX Venture Exchange approval.

The vendor retains a 1% net smelter returns royalty over which the company has complete buyback rights.

The Red Cross Lake property encompasses a trans-tensional zone within a flexure on the Valentine Lake fault, which has a mafic/ultramafic intrusion.

Price Action: VUL shares are trading lower by 3.23% at C$0.30 on TSXV and VULMF higher by 0.36% at $0.25 on the last check Wednesday.

Photo Via Company

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.