Sandstorm Metals & Energy Acquires NSR Royalty from Canadian Zinc’s Prairie Creek Project

Sandstorm Metals & Energy Ltd. (TSXV:SND) announced that it has acquired a 1.2-percent net smelter returns royalty on base metals from Canadian Zinc Corp.’s (TSX:CZN) Prairie Creek project.

As quoted in the press release:

Canadian Zinc will have the option, for a period of 30 months, to repurchase up to 100% of the NSR at face value if Canadian Zinc enters into a commodity stream agreement with Sandstorm Metals that has an upfront deposit of no less than US$90 million. In addition, Canadian Zinc has provided Sandstorm Metals with a right of first refusal on any future royalty or commodity stream financing for the Prairie Creek project.

Sandstorm’s President and CEO, Nolan Watson, said:

Prairie Creek is a high-grade project that has significant exploration potential.Canadian Zinc’s management team has done an excellent job developing the project while working towards securing their final permits.

To view the whole press release, click here.