Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
TORONTO, ONTARIO–(Marketwire – Sept. 2, 2011) – Claim Post Resources Inc. (TSX VENTURE:CPS) (the Company) announced today that Osisko Mining Corporation (Osisko) terminated the exploration agreement on Claim Post Resources wholly owned Mountjoy Property near Timmins Ontario. The original agreement on 110 claim units was signed August 10, 2009.
In 2010, Osisko completed both a 3200 sample MMI™ (Mobil Metal Ion) geochem sampling program and in 2011 a Magnetic and Radiometric airborne survey over portions of Mountjoy and Godfrey Townships. Management has been advised that Osisko’s target was a large gold porphyry system which they could not identify from the airborne data thus Osisko determined that it was in their best interest to terminate the Mountjoy Township Agreement.
“Claim Post has not yet received copies of the airborne survey” stated Charles Gryba “but we are very pleased with the results of the MMI survey. Our independent geochem consultant sees 2 major trends of anomalous gold going through Mountjoy Township. Claim Post has been concentrating on looking for a major new gold trend in the Timmins Camp thus the MMI results are very encouraging.”
Please visit our website at www.claimpostresources.com.
Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia. The Company currently holds a 100% interest in the mineral rights to about 1145 staked claim units and 63 patented claims (~200 km2 or 72 square miles), wholly within the city limits of Timmins, Ontario. The Company continues to stake ground as it becomes available. There are 36,163,831 common shares of the Company issued and outstanding.
