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Premier Gold Mine and Barrick Gold Sign Comprehensive Nevada-focused Agreement
Jan. 10, 2018 08:56AM PST
Gold InvestingPremier Gold Mines (“Premier” or “The Company”) (TSX:PG) is pleased to announce that the Company has entered into a Nevada-focused exploration and development agreement with Barrick Gold Corporation, through several wholly-owned subsidiaries (“Barrick”), that includes the following: Barrick will have an option to earn a 60% interest in the exploration portion of Premier’s McCoy-Cove Property (the “Joint Venture Property”) …
Premier Gold Mines (“Premier” or “The Company”) (TSX:PG) is pleased to announce that the Company has entered into a Nevada-focused exploration and development agreement with Barrick Gold Corporation, through several wholly-owned subsidiaries (“Barrick”), that includes the following:
- Barrick will have an option to earn a 60% interest in the exploration portion of Premier’s McCoy-Cove Property (the “Joint Venture Property”) by spending US$22.5 Million in exploration before June 30, 2022 (See Figure 1).
- Premier will retain 100% ownership over the Cove Deposit portion of the McCoy-Cove Property that includes the high-grade Helen, 2201 and CSD/CSD Gap Deposits.
- Premier will secure a one-time bulk sample processing arrangement for the planned test-mining program at its 100%-owned portion of the McCoy-Cove Property.
- Premier will have an option to acquire a 100% interest in Barrick’s Rye Vein Property (“Rye”), subject to a back-in right by Barrick, by spending US$3.0 Million in exploration before December 31, 2019. The Rye Property adjoins Premier’s Goldbanks Property option.