Birtavarre

Teako Minerals Announces Amendment of Option Agreement with Capella Minerals; Secures 100% Ownership of the Copper-Cobalt Vaddas and Birtavarre Licenses

Retrieved on: 
Wednesday, March 13, 2024
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Vancouver, British Columbia--(Newsfile Corp. - March 13, 2024) - TEAKO MINERALS CORP. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce that it has amended its option agreement (the "Option Agreement")( see news release dated July 18, 2023 ) with Capella Minerals Ltd. (TSXV: CMIL) (or "Capella"), to acquire 100% ownership of the Vaddas and Birtavarre licenses on the Vaddas project for a cash payment of NOK 315,000 (approximately CAD$40,000) payable to Capella.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - March 13, 2024) - TEAKO MINERALS CORP. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce that it has amended its option agreement (the "Option Agreement")( see news release dated July 18, 2023 ) with Capella Minerals Ltd. (TSXV: CMIL) (or "Capella"), to acquire 100% ownership of the Vaddas and Birtavarre licenses on the Vaddas project for a cash payment of NOK 315,000 (approximately CAD$40,000) payable to Capella.
  • Under the terms of the amended agreement, which supersedes the previous agreement, the Company paid NOK 315,000 to Capella on March 12, 2024, to acquire the remaining 50% interest in the Vaddas and Birtavarre licenses for a 100% interest in the project.
  • The Vaddas and Birtavarre licenses, in which the Company now has a 100% interest, add to the previously announced 100% owned Vaddas project licenses ( see news release dated January 22, 2024 ), which was realized through staking, meant to expand the Vaddas Project.
  • This means that the Company now owns 100% of all Vaddas Project licenses, the largest copper-cobalt project in northern Norway (see Figure 1).

Teako Minerals Secures $750,000 Loan from Largest Shareholder, Closes Private Placement and Engages Drill Contractor for Diamond Drilling on Yellow Moose

Retrieved on: 
Friday, August 25, 2023
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Radius Drilling Corp. has been engaged as the drilling contractor for the Yellow Moose Project, with a diamond drill program anticipated to start in early September.

Key Points: 
  • Radius Drilling Corp. has been engaged as the drilling contractor for the Yellow Moose Project, with a diamond drill program anticipated to start in early September.
  • Yellow Moose Project - Drill Contractor:
    Radius Drilling Corporation has been contracted for the drilling operations at the Yellow Moose Project.
  • The private placement involved the issuance of common shares to Mr. Kristian Whitehead, a director of the Company.
  • As a result, the private placement is considered to be a "related party transaction" within the meaning of MI 61-101.

Teako Minerals Corp. Acquires Interest in Norwegian Vaddas and Birtavarre Projects from Capella Minerals, Allowing All-Year Round Operations

Retrieved on: 
Tuesday, July 18, 2023
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The Projects held by Capella Minerals:

Key Points: 
  • The Projects held by Capella Minerals:
    Two separate Copper-Cobalt (High-grade Cu-Co-rich VMS deposits) projects "Vaddas" and "Birtavarre" that form the Vaddas-Birtavarre district - a past-producing Cu-Co-rich massive sulfide district in northern Norway.
  • Concurrent with the Agreement, Teako and Capella will enter into a strategic partnership regarding effective communication and collaboration within the Scandinavian region.
  • This innovative strategy allows Teako to maximize its exploration and drilling operations, ensuring a continuous workflow that keeps the momentum going all year round.
  • Teako is also planning to utilize the Norwegian project portfolio as a test hub for its technology partners.

Capella Stakes New Exploration Claims in the Past-Producing Vaddas-Birtavarre Copper-Cobalt District, Northern Norway

Retrieved on: 
Tuesday, July 5, 2022
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km") of exploration claims in the Birtavarre area, whilst the Vaddas area consists of 80 sq.

Key Points: 
  • km") of exploration claims in the Birtavarre area, whilst the Vaddas area consists of 80 sq.
  • km of granted exploration claims and a further 80 sq.
  • The granted exploration claims are all 100% owned by Capella and are not subject to any underlying exploration agreements.
  • Eric Roth, Capella's President and CEO, commented: "Capella has utilized its extensive in-country knowledge to stake a significant portion of this highly-prospective but underexplored belt of base/battery metal occurrences in northern Norway.