- Alta Copper Corp (OTCQX:ATCUF) has entered into a definitive option agreement with Precore Gold Corp for the Arikepay copper-gold project in Peru.
- The agreement allows Precore Gold to acquire up to 100% interest in the 1,800-hectare project through staged developments.
- Alta Copper terminated its joint venture option agreement with Forte Minerals for the Don Gregorio project, aiming to advance it independently or through new partnerships.
Alta Copper Corp (OTCQX:ATCUF) has announced a definitive option agreement with Precore Gold Corp concerning the Arikepay copper-gold project situated in Peru. This arrangement enables Precore Gold to secure up to a 100% interest in the 1,800-hectare asset via phased development stages.
Key terms of the agreement entail the issuance of 3.5 million Precore Gold common shares to Alta Copper. Furthermore, Alta Copper retains a 1.5% Net Smelter Royalty on the project. Precore Gold is committed to cash payments totaling C$375,000, alongside milestone payments amounting to C$7 million. Additionally, Precore Gold has pledged exploration expenditures of C$9 million over a decade.
In a separate development, Alta Copper has concluded its Joint Venture Option Agreement with Forte Minerals Corp regarding the Don Gregorio copper-gold project. Alta Copper plans to either independently progress the project or pursue new partnerships, underscoring its strategic initiative to optimize the project's geological potential.
