Great Republic amends Porcher property option agreement, British Columbia

Great Republic Mining Corp. [GRM-CSE] has entered into an amendment to its property option agreement for the Porcher vanadium-titanium property off the coast of northwestern British Columbia. Under the terms of the amendment, the company has agreed to issue an aggregate 150,000 shares to the property optionors (50,000 shares to each optionor) in consideration of the deferral of exploration expenditures to 2023, with $40,000 to be completed by March 1, 2023, and the balance of $60,000 by Dec. 31, 2023.

The shares issued to the optionors bear a hold period of four months and one day from the date of issuance and are subject to the company’s filing requirements with the Canadian Securities Exchange.

The Porcher property, located on tidewater, is centred on two large gabbroic bodies (5.2km x 1km and 4km x 0.6km) hosting iron-titanium-vanadium mineralization with historic concentrate grades ranging from 0.34% to 0.84% V₂O₅. Mineralization is open to expansion multiple directions

472.48 line-km was flown and 61 rock samples were taken during the 2019 field program. Rock samples were collected which represented commonly mapped rock types on the property, as well as in areas displaying strong alteration or mineralization.

Great Republic is engaged in the business of acquiring and exploring mineral resource properties. Great Republic has an option to acquire a 100% interest in the Porcher property, which is composed of nine contiguous mineral titles covering an area of 3,560.4 hectares in northwest British Columbia, Canada, approximately 40 km southwest of the city of Prince Rupert on Porcher Island.