Sunvest Minerals Corp.: Acquisition of the Roy Cobalt-Silver Property Approved
October 24, 2016 (Source) — Sunvest Minerals Corp. (TSXV: SSS) (“Sunvest” or the “Company”), announces the acquisition of the past producing “Roy Mine Cobalt-Silver property” (“Roy Mine Property”), located about 11 km northwest of Elk Lake, Ontario, has been approved by the TSX Venture Exchange. The Roy Mine Property is a former producer of silver, cobalt, and copper with mineralization contained in north trending calcite veins. It was discovered in 1912, and past development included three vertical shafts and underground and surface diamond drilling.
The cumulative acquisition terms to acquire a 100% interest in the Roy Mine Property are the issuance of 1.5 million shares of the company to arm’s-length parties over a one year period plus a work commitment of $50,000 in year one. A 2% NSR will be granted to the vendors with 1% purchasable by the company for 1 million dollars. A Finder’s Fee is payable in accordance with TSX Venture policies.
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The technical contents of this release were approved by Isabelle Robillard, MSc, P.Geo a Qualified Person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report.
The Company further announces the resignation of Bruno Maruzzo however Mr. Maruzzo will remain on in an Advisory role.
Sunvest Minerals Corp. is a junior mining exploration company focused on seeking and acquiring mineral properties of merit. Sunvest continues to evaluate suitable properties in Canada and the U.S.A.
ON BEHALF OF THE BOARD
Mike England, CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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