- Silk Road Energy Inc. (SLK.H) plans to acquire gold exploration properties from Record Gold Corp. via a mining claim purchase agreement
- The claims are the Amikougami, and Otto properties, located in Ontario
- Record Gold has agreed to exchange its 100 percent ownership of two concessions of gold and other precious metals claims
- It will be in exchanged for 9 million shares of Silk Road at a price of $0.05 per share
- Silk Road Energy Inc. (SLK.H) is unchanged and is trading at $0.035 per share as of 1:21 p.m. EST
Silk Road Energy Inc. (SLK.H) has announced plans to acquire gold exploration properties from Record Gold Corp.
The claims are the Amikougami, and Otto properties, located in the Kirkland Lake region of Ontario.
Record Gold has agreed to exchange its 100 percent ownership of two concessions of gold and other precious metals claims.
Silk Road will issue 9 million shares at a price of $0.05 per share.
The transaction is a related party transaction as members from both companies are involved as shareholders.
The Amikougami property is a gold exploration concession located near the Macassa Mine owned by Kirkland Lake Gold.
The property is shared with the claim block bordering the Macassa Mine in Ontario.
The Otto gold exploration concession is located southwest of Kirkland Lake Gold’s Macassa Mine in Ontario.
The Amikougami and Otto gold properties consist of 16 patented mining claims including five mining licenses.
The combined total for both properties is 192.56 hectares.
Surveying done by the previous owner on the properties identified several drill targets.
According to reports, grab samples taken from small pits on Amikougami contained significant gold grades.
The Otto property reported similar results.
Silk Road Energy Inc. (SLK.H) is unchanged and is trading at $0.035 per share as of 1:21 p.m. EST.