Great Basin Metals Inc. Acquires Covellite and El Tigre Projects from Chris Osterman
Great Basin Metals Inc. has signed a purchase agreement with Chris Osterman to acquire interests in the Covellite and El Tigre Projects in Arizona. The agreement includes the issuance of 6 million shares, cash payments of $20,000, and a 0.5% net smelter returns royalty. The Covellite Project is notable for its potential silver and copper mineralization, while the El Tigre Project has historical silver production. Exploration and drilling permits are planned for both projects.
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Great Basin Metals Inc. has entered into a purchase agreement with Chris Osterman to acquire 100% rights to the Covellite and El Tigre Projects in Arizona. The agreement entails issuing 6 million common shares, with $20,000 cash consideration ($10,000 per project), and a 0.5% net smelter returns royalty.
The Covellite Project, located near the Sierrita Mountains, shows promising silver-copper mineralization, while the El Tigre Project, known for high silver content, requires further exploration. Great Basin intends to apply for drilling permits for both projects immediately.
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