January 24, 2013 at 13:00 PM EST
Sandfield Resources To Earn 60% Interest in Canyon Copper’s Moonlight Copper-Porphyry Property
Canyon Copper Corp. (TSXV:CNC,OTCBB:CNYC) entered into an agreement with Sandfield Resources Ltd. to transfer up to a 70% interest in the Moonlight Copper-Porphyry Property to Sandfield. Sandfield will earn a 60% interest in the property under the terms of the Agreement and will be able to earn an additional 10% interest by issuing Canyon 2,500,000 common shares and acquiring an additional $3,000,000 of exploration expenditures by the fifth year of the Agreement.
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