Inomin will be the operator of the project during at least the initial earn-in period, entitling the company a fee equal to 10% of project exploration expenditures. It will be reimbursed by Sumitomo a portion of exploration expenditures it incurs at the project during term sheet exclusivity period.
Sumitomo is now conducting due diligence on the claims comprising the project. Upon successful completion, the parties will work towards finalizing a definitive agreement on the earn-in and joint venture.
The Beaver-Lynx property comprises 253.5 sq. km of mineral claims in south-central British Columbia. It is situated approximately 50 km from the city of Williams Lake and adjacent to Taseko Mines’ Gibraltar mine project, one of the largest open-pit copper mines in Canada.
Inomin acquired the Beaver-Lynx project in 2019 through staking for its potential nickel resource. At the time, it was considered two separate…
