• Altair Resources Inc (AVX) has announced further news regarding the acquisition of a 65 per cent interest in the Simon Property and has filed the technical report on the property
  • the Simon property presents an excellent opportunity for adding value, employing low-cost exploration activities to identify prime drilling sites in six anomalous zones previously identified with gold, silver and copper mineralization
  • Further to news releases from the summer which announced the first and second tranche closings, Altair Resources estimates that up to a further 10 million units will be issued at a price of $0.11 per unit
  • Each unit comprises one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.18 for a period of one year from the closing
  • Altair Resources Inc. (AVX) is down 4.76 per cent and is trading at $0.10 per share at 3:30 p.m. ET

Altair Resources Inc (AVX) has provided an update regarding the acquisition of a 65 per cent interest in the Simon Property in Nevada.

The company has received and filed the technical report on the Simon Property with the TSX Venture Exchange.

Once accepted, Altair Resources will move to complete the closing of the Simon Property option agreement.

As a past producer, the Simon property presents an excellent opportunity for adding value, employing low-cost exploration activities to identify prime drilling sites in six anomalous zones previously identified with gold, silver and copper mineralization.

The Simon property lies within the region that hosts the prolific Tonopah district, the Round Mountain gold mine and numerous other successful mining projects

Further to news releases from the summer which announced the first and second tranche closings, Altair Resources estimates that up to an additional 10 million units will be issued at a price of $0.11 per unit.

Each unit comprises one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share at a price of $0.18 for a period of one year from the closing

Altair Resources also announces it continues to work on the non-brokered private placement involving gold-producing properties in Eastern and Central Kazakhstan.

The properties contain a total historic indicated resource of 947,900 ounces of gold, open pit and underground, and a total historic inferred resource of 892,600 ounces of gold, open pit and underground.

Altair Resources Inc. (AVX) is down 4.76 per cent and is trading at $0.10 per share at 3:30 p.m. ET.

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