Norden Crown Expands with Smart Creek Copper-Gold Project
Norden Crown Announces Major Acquisition
Norden Crown Metals Corporation (TSXV:NOCR, OTC:NOCRF, Frankfurt:03E) is excited to announce its binding letter of intent with Domestic Copper Corporation. This agreement entails the acquisition of 100% of the securities of Domestic Copper in exchange for common shares of Norden Crown. This transaction provides Norden Crown with a significant opportunity to strengthen its position in the copper and precious metals sector.
Project Overview
The Smart Creek copper-gold porphyry project comprises 570 unpatented federal mining claims and 45 patented claims. The property presents a substantial resource potential and shows promise for significant copper and gold mineralization.
Geological Features
Smart Creek's geological formation is characterized by porphyry-related mineralization, particularly within the reactive Helena Formation. This property has already revealed substantial mineralization types, including copper-gold-silver replacements, that indicate robust exploration possibilities.
Exploration History
The Smart Creek project boasts a rich exploration history, with previous drilling activities delineating high-grade mineralization areas. Notably, several drill holes have reported significant copper intercepts, consolidating its status as a prospective project geared for future exploration and development.
Mining Activities
Historical mining activities at Smart Creek involved extracting high-grade copper-silver ore, significantly contributing to the mineralization data that supports future drilling efforts. This previous activity lays a foundation for nurturing the project's potential moving forward.
About the Transaction
The planned acquisition means Domestic Copper will become a wholly-owned subsidiary of Norden Crown, with a share exchange ratio that favors the exchange of its shares for Norden Crown Shares. The transaction is set to bolster Norden Crown’s share structure and financial base.
Financing and Future Plans
Concurrently with this acquisition, Norden Crown will conduct a non-brokered private placement to raise a minimum required gross proceeds aimed at exploration expenditures related to the Smart Creek Property.
Frequently Asked Questions
What is the Smart Creek project?
The Smart Creek project is a copper-gold porphyry project that comprises a significant number of mining claims with substantial mineral resources.
Who is acquiring Domestic Copper Corporation?
Norden Crown Metals Corporation is acquiring Domestic Copper, facilitating a strategic expansion into copper exploration.
What are the benefits of this acquisition for Norden Crown?
The acquisition enhances Norden Crown’s portfolio in high-potential copper and gold sectors, leveraging existing geological information for exploration.
What financing plans accompany this acquisition?
Norden Crown plans to conduct a non-brokered private placement to fund exploration costs associated with the Smart Creek project.
Who can I contact for more information?
For more information, you can contact Patricio Varas, Chairman and CEO of Norden Crown, at (604) 831-9306.
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