Voltage Metals (CSE: VOLT) has expanded its property holdings. The firm this morning indicated it has acquired a nickel and copper property in Ontario, found northeast of Timmins.
The property, referred to as the Jerry Lake nickel/copper property, covers a total of 2,080 hectares of land overtop the Jerry Lake intrusion. Located 140 kilometres from Timmins, the property has yet to be evaluated for ground geophysics, while drilling to date has only seen a single drill hole conducted on the property, which reportedly failed to hit bedrock.
The Jerry Lake gabbro is said to have nickel-copper sulphide potential as a result of chalcopyrite and nickel-in-till found on the property. Geology is said to be similar to the firms St Laurent project that is 60 kilometres to the east, which intersected notable nickel mineralization in a 2019 drill program.
Consideration for the property is to consist of $150,000 in cash, and the issuance of 1.7 million shares over a three year period. The claims are also subject to an NSR of 2.5%.
Additionally, the company this morning announced the appointment of Layton Croft to the firms board of directors. Croft currently serves as the CEO of Pancontinental Resources (TSXV: PUC), as well as Chairman of Erdene Resources Development (TSX: ERD).
Voltage Metals last traded at $0.175 on the CSE.
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