Published: May 19, 2016 |

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Khalkos has signed a letter of agreement giving it the exclusive right to acquire 100 percent of the Revillard mining property, Malartic Township in Quebec. In return, Khalkos will issue, at the signing, 2 million shares and carry out exploration fieldwork totaling $1 million over the next three years as well as a $50,000 payment. The Revillard property will carry a net smelter return of 2 percent.

The Revillard property which is constituted of 30 claims, is adjacent to the Malartic property put under option by Khalkos with J.A.G Mines Ltd. as well as the Malartic Lake Shore property acquired from Golden Share Mining Corporation. The new acquisition allows Khalkos to consolidate its strategic position in the Malartic mining camp in which Khalkos now holds more than 80 claims. The Revillard project was subject to stripping and channel sampling in 2006 by Britannica Resources delineating an important surface showing, which however has not been drilled. The area of stripping is more than 100 meters in length by 30 meters in width and remains open at north, east and west. A total of 334 channel samples were collected (0,5 m in thickness) for a total of 125 linear meters. A total of 200 samples located in wall rocks and peripheries of the principal shear zone yielded grades from 0,01 to 1 g/t Au. 70 samples yielded 1 to 3 g/t Au, 35 samples yielded 3 to 6 g/t Au, 19 samples yielded grades from 6 to 10 g/t Au and 10 samples yielded 10 or more g/t Au. The highest grade was 29 g/t Au.

“With this strategic acquistion, Khalkos confirms its mission to develop high gold grade properties, located close to surface and in proximity of world-class mining camp. Khalkos becomes the first modern exploration company to unify these three projects in Malartic Township with more than 80 claims located at the center of this world-class mining camp with major players such as: Agnico Eagle Mines, Canadian Malartic Mines and Oban Mining Corporation,” said Robert Gagnon, president and CEO of Khalkos.

About Khalkos
Created in 2011, Khalkos is the result of the spin-off from its parent company, Sirios Resources Inc. Today, Sirios holds close to 21 percent of all of Khalkos’ issued and outstanding shares. In the spring of 2013, the board of the company nominated M. Robert Gagnon as CEO of the company, following the resignation of M. Dominique Doucet who stayed on as a director and president of the board. The company has also announced in May 2013 important changes in its business plan and strategic orientation. Under the direction of the new president, the exploration activities and the emphasis will be directed mainly in Abitibi by concentrating on research, and development of deposit with high-grade, gold-bearing veins.

To stop by Khalkos’ website, CLICK HERE

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