Quartz Mountain Resources Ltd. (QZMRF) Agrees To Purchase Option On Canadian Mining Property
Quartz Mountain Resources Ltd. announced an agreement to purchase an outstanding option to acquire a full interest in a mining property in Canada. The option is currently owned by Hunter Dickinson Resources Ltd. and permits the holder to acquire a 100% interest in the Buck property located in British Columbia. The company believes that the property is prospective for gold and silver. Quartz Mountain Resources Ltd. has agreed to pay $100,000 in cash to Hunter Dickinson Resources Ltd. and issue 1.2 million shares of company common stock in exchange for the option. Quartz Mountain Resources Ltd. is also required under…