{"id":1168440,"date":"2020-02-28T08:15:26","date_gmt":"2020-02-28T14:15:26","guid":{"rendered":"https:\/\/www.mining.com\/?p=1015212"},"modified":"2020-02-28T08:15:26","modified_gmt":"2020-02-28T14:15:26","slug":"full-metal-interested-in-gsps-olivine-mountain-property","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1168440","title":{"rendered":"Full Metal interested in GSP\u2019s Olivine Mountain property"},"content":{"rendered":"<p>Full Metal Minerals (TSXV: FMM) and GSP Resource (TSXV: GSPR) entered into an agreement pursuant to which Full Metal has the option to earn a 60% interest in GSPR&#8217;s Olivine Mountain property located in British Columbia&#8217;s Similkameen Mining Division.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>According to GSP, following a 2018 airborne magnetic and TEM survey, and a 2019 exploration drilling campaign, several surface showings and targets within the property were identified and remain untested and warrant future exploration work<\/p>\n<\/blockquote>\n<\/figure>\n<p>In a press release, the miners said that Full Metals may exercise the option by incurring in exploration expenditures of $500,000, making cash payments totalling $500,000 and issuing 250,000 common shares over the four-year option term.<\/p>\n<p>Following the exercise of the option, Full Metal and GSPR will continue under a joint venture with the former holding a 60% interest and the latter holding a 40% interest.<\/p>\n<p>The 3,021.87-hectare Olivine Mountain property is located approximately 25 kilometres northwest of Princeton, British Columbia. <\/p>\n<p>According to the current owner, the property is underlain by rocks of the Tulameen Mafic\/Ultramafic Complex which hosts two adjacent magnetite deposits, Lodestone Mountain and Tanglewood Hill, both less than a kilometre outside of Olivine Mountain&#8217;s boundary, and hosted within same geological formations found within the property. <\/p>\n<p>Potential target metals include copper, nickel, platinum-group metals, cobalt, and gold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Vancouver-based miner wants to acquire a 60% interest in the Olivine Mountain property in British Columbia.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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