CAVU Mining Corp. has signed a definitive agreement to option a 51% interest in the Star copper-gold porphyry project in northern British Columbia from Prosper Gold Corp.
The company purchased 49% of the Star Project on April 20, 2022, and now has a path to own 100% of the asset. The Star project is located in the traditional territory of the Tahltan and Taku River Tlingit First Nations.
Highlights:
- The Star project is a copper-gold porphyry in the Golden Triangle.
- CAVU owns a 49% interest in the Star project and signed a definitive option agreement to earn the remaining 51% interest in the Star project.
- Over 13 000 m of modern drilling has been completed within the 6829 ha. claim block.
- The Star project is fully permitted for advanced exploration with 200 drill sites until 2026.
- A data verification program will be planned in the near future.
- CAVU will make payments of 1.25 million shares and $1.15 million over two years.
Dr. Jaap Verbaas, CEO of CAVU, comments:
“The signing of the definitive agreement gives us a path towards full ownership of the Star Project and allows us to start working towards a comprehensive exploration program.
“This fully permitted and drill-ready porphyry project is a great addition to our portfolio and we are looking forward to starting exploration. The company has been taking big strides this year with a 5000 m drill program starting on the Hopper and the acquisition of the Star Project in the Golden Triangle of BC.”