Visible Gold acquires 51% stake in Quebec’s Sakami property

Visible Gold Mines Inc. (TSXV:VGD) and Morocco Strategic Minerals Corp. (TSXV:MCC) have finalized an agreement to combine their interests in the Sakami property located in Quebec's James Bay Territory. The Quebec-based company completed the acquisition of a 51% stake in the 250 square kilometer property, with the remaining 49% to be acquired by the vendor under the terms of the agreement.

Visible Gold issued 1 million common shares to the vendor upon closing, and will acquire the final 49% by issuing an additional 3 million common shares on or before January 31, 2027. The company will also grant the vendor a 1% net smelter returns royalty on the property, which can be repurchased for $1 million. The common shares are subject to a three-year resale restriction, with partial release beginning four months following the closing date.

The Sakami property is near Fury Gold's deposit and Lux Metals' drilling program, and the agreement must still receive regulatory approval from the TSX Venture Exchange. Visible Gold Mines is an exploration company focused on gold projects in the Abitibi Gold Belt and James Bay region of Quebec.