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Tarsis Resources Ltd. (TSXV:TCC) announced a binding agreement to acquire eight gold properties in Nevada from Sandstorm Gold Ltd. (TSX:SSL) for 1.5 million shares and grant a net smelter returns (NSR) royalty.
Tarsis Resources Ltd. (TSXV:TCC) announced a binding agreement to acquire eight gold properties in Nevada from Sandstorm Gold Ltd. (TSX:SSL) for 1.5 million shares and grant a net smelter returns (NSR) royalty.
As quoted in the press release:
Details of the acquisition include:
- Eight (8) gold properties acquired in Nevada
- Primarily epithermal and Carlin style gold targets
- Tarsis to pay 1.5 million shares and grant a net smelter returns (NSR) royalty
- Tarsis will also grant Sandstorm a right of first refusal on any future metal streaming agreements on these properties
… The acquired properties were originally held by Nevada Eagle Resources LLC (NER), a private company controlled by Mr. Jerry Baughman, a well-known and respected Nevada geologist. In 2007, NER was acquired by Gryphon Gold Corporation (Gryphon), a Canadian listed exploration company and in 2010, Fronteer Development Group Inc. (Fronteer) acquired NER from Gryphon.
Tarsis President and CEO, Marc Blythe, said:
We are very pleased to build on our property portfolio in Nevada through the addition of these high-quality properties. Little to no exploration has taken place for several years due to various corporate transactions involving these 8 projects. Our agreement with Sandstorm will focus on unlocking the value of these assets – Tarsis is focused on early-stage exploration. Our geological team is very keen to begin work on these properties.
Click here to read the Tarsis Resources Ltd. (TSXV:TCC) press release
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