Reservoir Consolidates the Cukaru Peki Upper Zone Acquiring 55% Interest from Freeport
Reservoir completed an equity placement to
Reservoir has acquired 100% of Freeport's interest in the Timok Project Upper Zone of the Cukaru Peki copper-gold deposit, which is characterized by high grade massive and semi-massive sulphide mineralization (the "Upper Zone"), as well as Freeport's interest in all the mineral licenses comprising the Timok project, and 28% of Freeport's interest in the Timok Project Lower Zone of the Cukaru Peki deposit which is characterized by porphyry-style mineralization (the "Lower Zone"). Freeport will retain the remaining interest in the Lower Zone. In addition, Freeport has the option to have any new large mineral deposit containing at least four million tonnes of contained copper equivalent characterized in the same manner as the Lower Zone upon the payment to Reservoir of two times drilling, study and other similar costs plus other direct costs such as land acquisition costs.
Reservoir will be appointed as operator of the
Nevsun Equity Placement and Loan Agreements
Reservoir completed an equity placement to Nevsun for
Reservoir has entered into a Bridge Loan Credit Agreement with Nevsun for a total of
Reservoir has also entered into a Loan Agreement with Nevsun for
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