Midnight Sun Acquires Stake in Mulundu Licence to Expand Dumbwa Trend Exploration
Midnight Sun Mining Corp has entered into an earn-in agreement with Mulundu Holdings for a 62-square-kilometre licence adjacent to its Solwezi Project in Zambia. Geophysical data suggests the high-profile Dumbwa mineralized trend may extend onto this new property, prompting Midnight Sun's swift action to secure it. Under the four-stage deal, Midnight Sun will initially pay $25,000 and obtain environmental clearance before earning a 51% stake by spending C$750,000 in exploration over two years. It can then earn an additional 29%, for a total of 80%, with further investment of C$3 million within three years. The company plans to integrate the Mulundu Licence into its ongoing Dumbwa exploration program and identify drill targets through expanded geophysical surveys.
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