- Bullet Exploration (AMMO) has finalized the purchase of the Anita Property from Independence Gold Corp
- Bullet paid $30,000 in cash and issued 300,000 common shares for the property
- Independence Gold retains a 2-per-cent net smelter royalty (NSR) on the property
- The property is comprised of seven mineral tenures totalling approximately 2,900 hectares and covers three historical mineral showings
- Bullet Exploration is unchanged, trading at $0.16
Bullet Exploration (AMMO) has finalized the purchase of the Anita Property from Independence Gold Corp.
The Toronto-based corporation acquired a 100 per cent interest in the Anita Property in a cash and stock deal.
Bullet paid C$30,000 in cash along with 300,000 common shares for the property, located in British Columbia.
Independence Gold retains a 2-per-cent net smelter royalty (NSR) on the property.
Bullet Exploration has the option to re-purchase one per cent of the NSR at any time for $250,000.
The Anita Property is located on 30 kilometres north of Princeton, British Columbia and 45 kilometres south of Merritt. The property is comprised of seven mineral tenures totalling approximately 2,900 hectares and covers three historical mineral showings, the Al, the Cindy and the Anita.
The property is contiguous with the AXE property, which was just purchased by Kodiak Copper.
“With the strong copper prices, as well as the proximity of Anita, Bullet believes there is considerable exploration upside on the property and in underexplored areas on the property,” said Bullet Exploration President and CEO Jean Pomerleau.
Bullet Exploration is unchanged, trading at $0.16.