TORONTO (miningweekly.com) – Mexico’s highest-grade silver producer Excellon Resources on Monday reported that it had completed transferring another part of the DeSantis property, in Ontario, to project developer Oban Mining, which held a high-quality portfolio of projects in Canada.
Under the all-scrip transaction, TSX-listed Excellon received 229 600 common shares of fellow-listed Oban, adding to the 620 400 common shares previously received for the transfer of the mining claims comprising part of the DeSantis property.
In total, Excellon had received 850 000 common shares of Oban for the sale of the DeSantis property, representing about 0.68% of Oban’s total shares outstanding.
Oban owns the high-grade Windfall Lake gold deposit, located between Val-d'Or and Chibougamau, in Quebec, and also holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area of Quebec. The company holds interests and options in a number of additional properties in northern Ontario.