Quartz Mountain Resources has acquired its second BC mineral property, the Jake Property, located near Smithers, British Columbia. The project was acquired for its copper-gold porphyry potential.
2021 News
July 7, 2021 Vancouver, BC - Quartz Mountain Resources Ltd. has completed the acquisition transaction announced on June 10, 2021. Under a mineral claims purchase agreement dated June 8, 2021 between the Company and Impala Capital Corp, the Company will acquire a 100% interest in nine mineral claims located near Houston, British Columbia. Under the terms of the Agreement, the Company acquired a 100% interest in the Property by making $105,000 in cash payments and issuing 1,000,000 shares to the Vendor, which are subject to a 4 month resale restricted period. The Property is subject to a pre-existing 2.5% net smelter returns royalty held by an unrelated arm’s length third party, of which 1.5% can be purchased for $1.5 million.
June 10, 2021 Vancouver, BC - Quartz Mountain Resources Ltd. announces that it has entered into a mineral claims purchase agreement to purchase nine mineral claims located near Houston, British Columbia for CAD$105,000 in cash and 1,000,000 shares in the capital of the Company, subject to TSX Venture Exchange approval.
Quartz Mountain Sells Royalty
2/4/2021
February 04, 2021 Vancouver, BC - Quartz Mountain Resources Ltd. announces that it has sold 100% of its 1% Net Smelter Return Royalty on the Quartz Mountain Gold Property, located in Oregon for US$150,000. The Purchaser is an arms length third party. The Company acquired the Royalty when it sold the Quartz Mountain Gold Property to Seabridge Resources Inc. in 2001.