Tres-Or’s Fabre Project (2450 ha) in the Témiscamingue region of northwestern Quebec, covers historical silver-cobalt-nickel, copper, and gold showings within the eastern extents of the famous Cobalt Silver Mining Camp. Tres-Or completed two drill holes (total 205.7 m of NQ core recovered) which were designed to confirm and extend historical silver-cobalt-bismuth drill intersections reported in report GM 532650 of up to 714.5 grams per tonne (g/t) silver, 8.0% Co, and 1.1% Bi on the property. Tres-Or’s two drill holes were located approximately 1.5 km outside the small town of Fabre, Quebec.
Drill hole TRS F002-10 intersected 68.36 grams per tonne (g/t) silver (Ag) over 30 m between 66 and 96 m depth, including 201 g/t Ag over 9 m between 85 and 94 m depth. The richest individual sample was 1510 g/t Ag over 1 m between 90 and 91 m. This sample contains 74% of the total silver from the 30 m interval. Drill hole TRS F001-10 intersected a silver mineralized zone of 3.01 g/t Ag over 35 m between 19 and 54 m, including a richer zone of 7.01 g/t Ag over 5 m between 34 and 39 m. Both holes were drilled from the same surface location angled towards the northeast at azimuth 027. TRS F001-10 was drilled at 45 degree inclination and TRS F002-10 at a 78.5 degree inclination. True widths of the mineralized intervals are unknown, and orientation of the mineralization is yet to be determined.
In August 2016, Tres-Or and Battery Mineral Resources Pty Limited (“Battery Mineral Resources”) entered into a Property Option Agreement to acquire Tres-Or’s 100%-owned Fabre Cobalt-Silver Property (1813 ha or 31 claims).
Under the terms of the Agreement, Battery Mineral Resources can earn up to 100% of the Fabre Project over a two year period subject to a 2.0% GMR in favour of Tres-Or. Battery Mineral Resources can buy back 1.0% GMR for $1.0 million and buy-back the remaining GMR for $1.5 million. To complete the Agreement, Battery Mineral Resources paid a non-refundable deposit of $5,000 (received) and agreed to pay $105,000 (received) on signing. Battery Mineral Resources has committed to expend $450,000 in exploration work over a 24 month period and 12 months after signing the Agreement, has agreed to pay Tres-Or $100,000 (received) and in 24 months, pay a further $100,000 (received) and Tres-Or will deliver the 100% transfer title documents (complete) subject to retaining a 2.0% GMR.
In August 2017, Tres-Or signed an Amendment to the Agreement to receive the first $100,000 property payment on or before October 29, 2017 (received) and to receive 30,000 shares of Battery Mineral Resources (received).
The Company has received the final $100,000 property payment on August 24, 2018. Battery Mineral Resources has delivered the Fabre Project technical reports detailing the $450,000 in exploration activities on the 31 Fabre claims including airborne magnetic and radiometric surveys, prospecting, sampling and mapping and LiDAR reports and 3D distributed IP survey report. As such, the Company has delivered the duly executed transfer title documents to complete the 100% transfer of 31 Fabre claims subject to the Company retaining a 2.0% GMR.