DISCOVERY ENGY METALS CRP Stock Price, News & Analysis

DEMCF OTC

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06/17/2025 08:30 AM

News

Discovery Energy Metals to Acquire 100% of Crystal Lake Copper Property in British Columbia

Rhea-AI Summary

Discovery Energy Metals Corp. has entered into a definitive agreement to acquire 100% of the Crystal Lake Copper Property in British Columbia from Zimtu Capital Corp. The property spans 5,283 hectares across eight mineral claims, located 34km south of Fort Fraser. The acquisition terms include CDN $200,000 in cash payments, 2 million common shares, and a 2% NSR royalty. The property features a 2.3km diameter porphyry intrusion identified by a 2010 magnetic survey, with historic grab samples showing up to 0.7% copper with elevated gold and silver values. The site benefits from excellent infrastructure including road access, CN Rail Line, and power transmission lines. Additionally, Discovery announced a private placement offering of up to 10 million units at $0.10 per unit to raise $1 million for working capital and exploration.

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