NIKOS Acquires Option to Purchase Borden Lake Extension Project, Chapleau, Ontario
Published : December 19, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Copper | Gold | Market |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2012) - Nikos Explorations Ltd. (News - Market indicators) ("Nikos") is pleased to announce that it has entered into an option agreement to earn a 100% interest in the Borden Lake Extension Property located near Chapleau Ontario, subject to regulatory approval. The agreement is subject to the approval of the TSX Venture Exchange.

The 1,598 hectare property lies immediately east of Probe Mines' Borden Lake gold project where recent exploration has defined pit constrained indicated resources of 2,735,000 ounces of gold (81.9 M tonnes grading 1.04g/t gold) and inferred resources of 683,000 ounces of gold (22.9 M tonnes grading 0.93g/t gold) at a 0.6g/t cutoff grade. 

Nikos may earn a 100% undivided interest in the property by making an initial payment of $3,000 and issuing 250,000 common shares of Nikos upon regulatory approval of the transaction, and then funding exploration expenditures of $340,000, making further cash payments of $97,000 and issuing an additional 750,000 shares over the three year period of the agreement. The vendors retain a 2% royalty, half of which may be bought back by Nikos for $1 million at any time.

Nikos intends to contract a high-resolution VTEM airborne survey over the property early in 2013 in order to identify electromagnetic anomalies that may be associated with gold mineralization and to help in the geological interpretation of this underexplored area.

About Nikos Explorations:

Nikos Explorations is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective copper and gold projects in the Americas. The company has 44,225,406 shares issued and outstanding and trades on the TSX Venture Exchange under the symbol NIK.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Nikos Explorations Ltd.
Roger Moss
President
416-516-6050
www.nikosexplorations.com

Nikos Explorations Ltd.

EXPLORATION STAGE
CODE : NIK.V
ISIN : CA6539212051
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Nikos Expl. is an exploration silver and gold company based in Canada.

Nikos Expl. holds various exploration projects in Canada and in Nicaragua.

Its main exploration properties are ISLAND COPPER and COPPERCORP in Canada and NICARAGUA GOLD in Nicaragua.

Nikos Expl. is listed in Canada. Its market capitalisation is CA$ 4.8 millions as of today (US$ 3.7 millions, € 3.2 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.01, and its highest recent level on April 21, 2011 at CA$ 0.50.

Nikos Expl. has 25 080 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Nikos Explorations Ltd.
1/21/2015Announces Private Placement
3/23/2011Enters Letter of Intent to Acquire Nicaraguan Gold Propertie...
Project news of Nikos Explorations Ltd.
3/23/2011(Nicaragua Gold)Enters Letter of Intent to Acquire Nicaraguan Gold Propertie...
Corporate news of Nikos Explorations Ltd.
7/18/2016NIKOS Announces Positive Results of Geochemical and Geophysi...
6/8/2016Nikos Closes Second Tranche Of Private Placement
5/30/2016Nikos Announces First Tranche Closing
5/16/2016Nikos Announces Private Placement Financing
4/29/2016Nikos Stakes Additional Claims Increases Area Of Borden Lake...
4/28/2016Nikos Stakes Additional Claims Increases Area of Borden Lake...
3/29/2016Nikos Reports Visible Gold In Till From Borden Lake Extensio...
1/6/2016U.S. stocks plunge as oil, North Korea cause worry
1/4/2016NIKOS Announces Private Placement Financing
12/19/2015NIKOS announces signing of memorandum of understanding with ...
11/26/2014NIKOS announces positive results of VLF survey and staking o...
5/22/2014NIKOS Announces Positive Results of Test VLF Survey and Opti...
9/23/2013Announces Positive Results of Soil Gas Hydrocarbon Survey at...
5/28/2013Announces Results of VTEM Survey Over Borden Lake Extension ...
3/4/2013completes VTEM survey over Borden Lake Extension Project, Ch...
12/19/2012Acquires Option to Purchase Borden Lake Extension Project, C...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (NIK.V)
0.190-2.56%
TSX-V
CA$ 0.190
11/01 11:27 -0.010
-2.56%
Prev close Open
0.195 0.190
Low High
0.190 0.190
Year l/h YTD var.
0.040 -  0.220 90.00%
52 week l/h 52 week var.
0.040 -  0.220 90.00%
Volume 1 month var.
6,000 -%
24hGold TrendPower© : 34
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
201790.00%0.150.09
201666.67%0.190.03
2015-33.33%0.150.02
201480.00%0.150.02
2013-66.67%0.250.05
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.19-2.56%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 4.58+1.78%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.57+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 2.88+3.05%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.18+6.06%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.66+1.54%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 2.03+4.10%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 4.28-0.47%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.16+10.71%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.90-2.36%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 4.58-0.33%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.14+3.00%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.08+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+2.70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 0.96+5.49%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.55+5.77%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 38.02+2.81%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.16+0.00%Trend Power :