- Write by:
-
Saturday, June 6, 2020 - 2:22:02 PM
-
533 Visit
-
Print
Mining News Pro - Aura Resources has entered into a definitive amalgamation agreement for the acquisition of Territory Metals, an unlisted private company in British Columbia, western Canada.
Aura said its interest in Territory focuses on the company’s Tip Top gold project in Nevada, USA.
Tip Top is subject to an agreement of purchase and sale whereby Territory has a right to acquire a 100% interest in the project.
The property comprises 22 unpatented mining claims covering approximately 173 hectares. It is located in Esmeralda County, at the north end of the White Mountains, five miles south of Montgomery Pass.
According to Aura Resources, Tip Top contains several low-sulfidation oxide gold-silver epithermal veins with low base metal contents which are peripheral to an altered rhyodacite intrusion emplaced into Jurassic-Cretaceous intrusive and a bimodal package of volcanic rocks.
“Two of the veins historically produced a total of 6,900 ounces of gold and some silver,” the miner’s statement reads.
“Since 1980, the property has been drilled by five companies, with 143 drill holes totalling over 24,000 feet. Historical drilling along the Tip Top vein, and particularly around the Tip Top adit, has identified gold-bearing veins and there is a good possibility of expanding the known mineralization along strike and to depth.”
Short Link:
https://www.miningnews.ir/En/News/543240
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
No comments have been posted yet ...