24 May 2021 | 13:56pm
StockMarketWire.com - US focused precious metals producer and exploration company Phoenix Copper Ltd has announced announce that it has entered into an earn-in agreement with First Cobalt Idaho, in respect of the Redcastle Cobalt property on the Idaho Cobalt Belt.
First Cobalt will pay US$50,000 and issue 200,000 unrestricted shares to Phoenix before completing two phases over a five-year period. Upon completion Pheonix and Cobalt will enter into a joint venture agreement.
Ryan McDermott, CEO of Phoenix Copper, said: First Cobalt has been drilling from surface and underground workings at Iron Creek since 2018. They are well-positioned to carry out exploration at our Redcastle property adjacent to Iron Creek with the expertise, staffing, and infrastructure already in place locally.
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