This story first appeared at Canadian Mining Journal.
Visible Gold acquires remaining 40% of Cadillac East project
Aerial view of a portion of the Lucky Break land package – Image courtesy of Cadillac Gold
Visible Gold, headquartered in Rouyn-Noranda, Que., has agreed to purchase the remaining 40% interest in the Cadillac East gold project from Cadillac West Explorations, a subsidiary of Liberty Gold Corp. Visible Gold will then be the 100% owner of the project.
The purchase is a share-only deal. Visible Gold will issue 750,000 common shares with a deemed value of $0.06 each to Cadillac West. The Cadillac East property is subject to a 1.5% net smelter return royalty to be paid to the former owners.
Visible Gold also holds the Lucky Break and Cadillac Break claims along 24 km of the prolific Cadillac Fault.
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