- Write by:
-
Wednesday, August 12, 2020 - 11:46:43 PM
-
570 Visit
-
Print
Mining News Pro - Canada’s Brigadier Gold signed a definitive agreement for an option to acquire a 100% interest in the Picachos gold-silver property in Sinaloa, Mexico.
To go ahead with the deal, Brigadier will have to provide staged consideration to the vendor over a five-year period, consisting of cash payments of $275,000, share issuances totalling 4 million common shares of Brigadier and cumulative exploration expenditures of $3.85 million.
Brigadier will also have to make payments to the vendor for Picachos development milestones, namely, 1 million common shares of Brigadier upon delineating a mineral resource estimate containing a minimum of 350,000 ounces of gold in the inferred category; $725,000 and 1 million common shares of Brigadier upon completion of a feasibility study recommending the construction of a mine; and $2 million upon commencement of commercial production.
“Closing the Picachos acquisition marks our official entry into the Sierra Madre epithermal belt, which has seen tremendous drilling success from neighbouring exploration companies,” Ranjeet Sundher, the company’s CEO, said in a media statement.
Picachos comprises four mining concessions covering an area of 3,954 hectares and it is located in the municipality of El Rosario, in the southeastern region of Sinaloa state. Geographically, the project overlaps part of the western foothills of the Sierra Madre Occidental.
According to Sundher, the property hosts two regional-scale precious metal-rich vein systems and a large porphyry copper prospect.
Short Link:
https://www.miningnews.ir/En/News/583175
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
No comments have been posted yet ...