MiningNewsBreaks – Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) Signs LOI to Option Patos Ionic Clay Rare Earth Project in Brazil
This article has been disseminated on behalf of Canamera Energy Metals Corp. and may include paid advertising. Canamera Energy Metals (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) announced it has signed a non-binding letter of intent to acquire an option to earn a 100% interest in the Patos ionic clay rare earth element project in Minas Gerais, Brazil, covering approximately 15,979 hectares. The agreement contemplates a two-stage process beginning with a C$20,000 due diligence auger drill program of up to 10 holes to confirm ionic clay REE mineralization. If exercised, the option would require aggregate consideration of C$228,000 in cash and C$307,800 in common shares, with a 2% net smelter return royalty in favor of the…