Go Metals Signs Option Agreement with Eureka Metals for KM98 Project
Go Metals Corp. has entered an option agreement with Eureka Metals to allow the latter to earn up to an 80% interest in the KM98 vanadium-titanium-iron project. This partnership enables both companies to leverage their resources, focusing on advancing critical mineral projects in Québec.
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Go Metals Corp. has finalized an option agreement with Eureka Metals Corp. for up to 80% interest in the KM98 project, located 60 kilometers north of Havre-Saint-Pierre, Québec. Eureka can earn an initial 50% by paying $80,000, issuing 1,750,000 common shares, and spending $2.0 million in exploration within three years.
An additional 30% can be earned with further payments and expenditures totaling $2.6 million over five years. The project is permitted for trenching and drilling, featuring a district-scale titanium-bearing oxide system.
The collaboration allows Go Metals to concentrate on its copper-focused projects while retaining a 20% stake in KM98, which complements Eureka's growing titanium portfolio. This strategic partnership may enhance exploration capabilities and reduce financial risks for both entities.
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