Khalkos Announces Acquisition of Gold Property in Abitibi, Quebec; Shares Rise 11%
Khalkos Exploration Inc. (KAS.V) announced the acquisition of the V Property in the Villebon Township, located south of the city of Val d'Or in Abitibi, Quebec.
The property consists of two adjacent lots covering 87 hectares containing gold-bearing quartz veins of several metres in thickness. In accordance with the agreement with the vendors, which is conditional to the approval of the competent authorities, Khalkos wholly acquires this strategic property in consideration of the issuance of 1,200,000 common shares.
Recent rock sampling and historical data compilation demonstrate the strong potential of the V Property, which encourages Khalkos to pursue exploration activities on the property, the company said in a statement.
KAS shares were up half-a-cent to $0.05.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.