- Origen Resources (ORGN) has provided an update concerning the option of the Arlington Property
- Jessy Ventures Corp. has received conditional approval from the TSX Venture Exchange for the option of the Arlington Property from Origen
- Jessy optioned the Arlington Property from Origen based on highly anomalous gold, silver, copper and cobalt sampling and historical production
- Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium properties
- Origen Resources Inc. was up 2.56 per cent, trading at $0.20 at 11:46 ET
Origen Resources (ORGN) has provided an update concerning the option of the Arlington Property.
Jessy Ventures Corp. has received conditional approval from the TSX Venture Exchange for its previously-announced qualifying transaction involving the option of the Arlington Property from Origen.
Jessy optioned the Arlington Property from Origen based on highly anomalous gold, silver, copper and cobalt sampling and historical production.
In addition, the earlier-announced arm’s-length mineral property option agreement dated September 17, 2021, has been amended to provide that Jessy will pay $110,000 of costs related to Origen’s previously-completed exploration program.
This is payable in cash and shares by issuing to Origen 900,000 common shares of Jessy (at a deemed price of $0.10 per common share) and paying $20,000 in cash within five days of Jessy completing its qualifying transaction.
In line with the definitive agreement, Jessy has been granted the exclusive right and option to acquire an undivided 60-per-cent interest in and to the property.
The property consists of five mineral claims covering approximately 1,571.65 hectares in south-central British Columbia.
The option is earned over a three-year period.
“We would like to congratulate Jessy on reaching this milestone in their listing process,” said Blake Morgan, President of Origen.
“Jessy’s concurrent financing will allow for focused exploration on a polymetallic project with highly-attractive sample results underlying a solid geological model,” he added.
Origen is an exploration company engaged in generating, acquiring and advancing base, precious metal, and lithium properties.
Origen Resources Inc. was up 2.56 per cent, trading at $0.20 at 11:46 ET.