- Write by:
-
Thursday, May 28, 2020 - 5:09:23 PM
-
560 Visit
-
Print
Mining News Pro - Seabridge Gold completed the acquisition of a 100% interest in the 3 Aces gold project in Canada’s Yukon territory.
To seal the deal with Golden Predator Mining, Seabridge has to issue 300,000 common shares and agree on potential future cash payments totalling $2.25 million.
The acquisition agreement provides for payments to Golden Predator of $1 million upon confirmation of a 3 Aces NI-43-101 compliant mineral resource of 2.5 million ounces of gold and a further $1.25 million upon confirmation of an aggregate mineral resource of 5 million ounces of gold. The agreement also grants Golden Predator a 0.5% net smelter royalty on the project.
“We think 3 Aces is a worthy addition to the three outstanding exploration opportunities we already own in British Columbia, Nevada and the Northwest Territories,” Seabridge Gold chairman and CEO, Rudi Fronk, said in a media statement.
“Golden Predator has done an excellent job of demonstrating the exploration potential at 3 Aces, confirming the project’s positive metallurgy and establishing excellent relationships with local First Nations and communities.”
Fronk said the company’s current plan is to assemble and evaluate the wealth of data developed by GPY for the targets in the Central Core Area of the project with a view to initiating an aggressive drill program next year.
3 Aces is a district scale, orogenic-gold project consisting of 1,536 claims covering approximately 350 square kilometres in the southeastern region of the Yukon.
Short Link:
https://www.miningnews.ir/En/News/537369
Canada’s corporate ethics watchdog on Tuesday said it was likely that human rights abuses had occurred at a mine in ...
Commodities usually rally when central banks cut interest rates, bolstering the case for going long raw materials in the ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
French President Emmanuel Macron said on Monday the government is seeking to designate new regulated gold mining zones ...
Newmont Corp. has kicked off the sale of its Akyem gold mine in Ghana, which is attracting interest from potential ...
Vista Gold has released an updated feasibility study for its Mt Todd gold project in Northern Territory, Australia, to ...
Gold production in Burkina Faso declined last year as deteriorating security conditions in the West African nation ...
Gold snapped nine days of record-breaking gains as underlying US inflation topped forecasts for a second month in ...
A Senegalese opposition coalition backed by popular firebrand Ousmane Sonko launched its presidential campaign platform ...
No comments have been posted yet ...