Lion Copper and Gold Corp (TSX-V:LEO, OTCQB:LCGMF) said it has entered into a definitive agreement with Houston Minerals Ltd. on the proposed acquisition of a 100% interest in the Chaco Bear property and the Ashton property.
The properties consist of 19 mineral claims covering 80 square kilometers within what the company believes to be some of the most prospective areas of British Columbia.
The Chaco Bear property is located directly east of the Golden Triangle, within the Stikine Terrane and hosted in similar rock formations as the Eskay Creek deposit, a precious metals volcanogenic massive sulphide (VMS) deposit that was in production from 1994 to 2008.
READ: Lion Copper and Gold excited about 'significant' upgrade to the resource at its MacArthur copper deposit
The Ashton Property is located near Lytton, British Columbia within the Spences Bridge Group, a narrow, northwest-trending belt of early cretaceous volcanic rocks covering nearly 3,200 square kilometers from Princeton to Lillooet in British Columbia that are highly prospective for epithermal style gold mineralization.
The company noted that it is in the midst of processing data obtained from the 2021 field exploration programs completed by Houston Minerals Ltd. on both the Chaco Bear and Ashton properties -- with results to be made public in a future announcement.
"We are pleased to have added these exciting properties to our exploration pipeline. We are intrigued by initial reports from the field exploration programs and look forward to being able to provide these results in the near future," said Lion Copper and Gold CEO Travis Naugle in a statement.
The company also is advancing its MacArthur Copper Project in Mason Valley, Nevada, and continuing its tradition of securing and advancing potential district-scale resources through discovery, development, and partnerships with the intent of eventually providing metals essential in the development of alternative energy solutions.
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