Northwire Canada EditionTuesday, November 10, 2026
Northwire
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Gold 4,064.50 −1.2% Silver 51.91 −1.5% Copper 6.26 −1.4% Oil 84.66 −2.5% Palladium 1,030.00 +0.8% COPR 0.375 +0.0% WSK 0.170 +0.0% GAL 0.380 +0.0% VCG 1.02 +0.0% LVX 0.340 +0.0% RAMP 0.270 +0.0% QTWO 1.61 +0.0% SUM 1.32 +0.0% SGML 8.35 +0.0% BOGO 0.790 +0.0% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.320 +0.0% Gold 4,064.50 −1.2% Silver 51.91 −1.5% Copper 6.26 −1.4% Oil 84.66 −2.5% Palladium 1,030.00 +0.8% COPR 0.375 +0.0% WSK 0.170 +0.0% GAL 0.380 +0.0% VCG 1.02 +0.0% LVX 0.340 +0.0% RAMP 0.270 +0.0% QTWO 1.61 +0.0% SUM 1.32 +0.0% SGML 8.35 +0.0% BOGO 0.790 +0.0% SGC 0.095 +0.0% MANU 0.150 +0.0% GMA 0.200 +0.0% ONAU 0.475 +0.0% TGOL 0.130 +0.0% MD 0.320 +0.0%
M&A / Property

Great Atlantic options Mount Raymond project to Slam

GR · Price

Executive Summary

  • Great Atlantic Resources Corp. has entered into an arm's-length option agreement with Slam Exploration Ltd. to earn a 100% interest in the Mount Raymond South mineral claim in New Brunswick.
  • Slam Exploration must complete specific cash payments, share issuances, and exploration expenditures over a three-year period to fully earn the property.
  • Upon earning the interest, Great Atlantic retains a 2% Net Smelter Return (NSR) royalty, which Slam has the right to buy back 50% of for $1 million prior to commercial production.

Key Details

  • Transaction Structure: Option agreement granting Slam Exploration Ltd. the right to earn a 100% interest in the Mount Raymond South mineral claim.
  • Property Location: Northern New Brunswick, Canada.
  • Property Size: Approximately 175 hectares.
  • Earn-In Requirements (3-Year Period):
    • Aggregate cash payments totaling $82,500.
    • Issuance of 675,000 common shares to Great Atlantic Resources.
    • Minimum qualifying exploration expenditures of $200,000.
  • Payment Schedule: Staged cash payments and share issuances are due upon TSX Venture Exchange approval and on each of the first, second, and third anniversaries of the agreement.
  • Royalty Terms:
    • Great Atlantic retains a 2% NSR royalty after Slam earns 100% interest.
    • Slam has the right to purchase one-half (1%) of the NSR royalty for $1 million at any time prior to commercial production.
  • Historical Geological Data (Unverified by Great Atlantic):
    • A 2011 diamond drill hole intersected 1.65 meters of semi-massive to massive sulphides (pyrrhotite) with chalcopyrite veinlets within gabbro.
    • Reported intercept: 0.43% copper, 0.12% nickel, and 0.11% cobalt over 1.65 meters.
    • Additional samples from the same hole reported 0.18% cobalt and 0.12% vanadium over one-meter core lengths.
    • Mineralization reported near surface (within 120 meters vertical depth).
  • Qualified Person: David Martin, PGeo, Vice-President of Exploration for Great Atlantic, approved the technical information.

Notable Quotes

  • No direct quotes from executives were included in the provided text.
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