Trigold will issue to the vendor 1,000,000 common shares and deliver cash payments in the aggregate amount of $75,000.
The value of the total deemed consideration for the transaction is $175,000 based on a deemed price per common share of $0.10.
The properties specific to diamonds are located within northern part of the Slave Structural Province of the Canadian Shield.
Work on the prospecting permits include diamond bearing kimberlites and kimberlite dykes, unexplained kimberlite indicator mineral trains identified in glacial till.
It also includes unsourced kimberlite float trains and unexplained geophysical targets near KIM trains.
The properties feature the Rush, James River and Muskox diamond bearing kimberlites. The Muskox Kimberlite was earlier discovered by and worked on by Debeers Canada and Tahera.
The Muskox Kimberlite has two phases and is known to yield diamond grades in the magmatic phase of 0.53 carats per tonne and diamond grades in the pyroclastic phase of 0.35 carats per tonne from mini-bulk samples weighing 865 and 63 dry tonnes, respectively.
