In a Press Release, CanAm and El Nino, the project operator, released results for the first four drill holes drilled in the Halo property, in addition to outlining the descriptions of five other targets included in CanAm Uranium Corp’s option agreement.
The results released were extremely favorable for DDH H-4, the upper hole on the second or easternmost section drilled; and all four drillings confirmed historical production. CanAm is currently moving their drill to their next drilling location which will be in the Amalgamated Rare Earth project.
In the option agreement, CanAm stated the details of the agreement between them and El Nino. El Nino will receive 275,000 shares and a cash payment of $125,000 in order to compensate for assisting them as an operator. CanAm is currently financing the two projects totaling $500,000 in order to extend its historical reserves.
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