The Goldstrom property consists of 134 mining claims and 1,160 leased acres totaling approximately 3,900 acres.

The company was able to confirm historic gold and silver drill hole locations and found the historic drill core.

The Canadian billionaire investor has splashed over C$145 million on gold, silver, and nickel explorers.

The company continues to complete requirements for final authorizations and permits.

The deal is pursuant to a share exchange agreement that contemplates a proposed business combination with PPM Phoenix Precious Metals Corp.

The company received an amendment to its Mines Act Permit M-33 from British Columbia Energy, Mines and Petroleum Resources.

The move comes after the Joko Widodo government mandated that major mines have to be at least 51% owned by Indonesian companies.