Aben Resources (TSX-V:ABN, OTCQB:ABNAF) Ltd has announced that it has entered into an option agreement with Rackla Metals Inc granting Rackla the option to acquire a 100% interest in the Hit property in Yukon, Canada.
The company said under the terms of the agreement, Rackla may acquire a 100% interest in the property, which consists of 24 mineral claims, by paying C$25,000 to the company within three business days following the closing date.
Within 12 months of the closing date, Rackla must also pay a further C$25,000 to the company, issue 250,000 common shares in the capital of Rackla to Aben, and incur a total of C$100,000 in qualified expenditures on the property.
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Aben said it will retain a net smelter return (NSR) of 0.5% on the property.
Rackla will assume the company’s obligation to pay a 2% NSR royalty to Sandstorm Gold Ltd, pursuant to the October 17, 2019, NSR royalty agreement between Aben and Sandstorm.
Aben Resources (TSX-V:ABN, OTCQB:ABNAF) is a well-funded Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario, and the Yukon.
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