Gold Terra Announces a 2 Year Extension on Option Agreement with Newmont to November 21st, 2027 to purchase 100% of Past Producing 16 g/t Gold Con Mine, Yellowknife, NWT

VANCOUVER, BC / ACCESSWIRE / September 9, 2024 / Gold Terra Resource Corp. (TSX-V:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company") is pleased to announce it has extended its four (4) year definitive option agreement (the "Option Agreement") with Newmont Canada FN Holdings ULC ("Newmont FN") and Miramar Northern Mining Ltd. ("MNML"), both wholly owned subsidiaries of Newmont Corporation ("Newmont"), to a six (6) year agreement which grants Gold Terra the option, upon meeting certain minimum requirements, to purchase MNML from Newmont FN (the "Transaction"), which includes 100% of all the assets, mineral leases, Crown mineral claims, and surface rights comprising the Con Mine, as well as the areas immediately adjacent to the Con Mine, as shown in Exhibit A (the "Con Mine Property").

Gerald Panneton, Chairman & CEO of Gold Terra, commented, "We are pleased with our continued excellent relationship with Newmont who is also a shareholder of the Company. The extension of the Option Agreement to acquire 100% of MNML's Con Mine allows us to continue with our current drilling program designed to delineate more than 1.5 Moz in all categories with high-grade ounces along the prolific Campbell Shear structure below and around the existing mine workings. Our accomplishments to date include:

1. Contained Indicated 109,000 ounces @ 7.55 g/t Au and Inferred 432,000 ounces @ 6.74 g/t Au near surface south of the Con Mine in the Yellorex area. (refer to Gold Terra Oct 21, 2022, Technical Report).

2. Total drilling of 31,947 metres to the end of 2023.

3. Total spending of approximately C$10.9 million to the end of 2023

4. Current 2024 drilling of more than 3,000 metres testing the down plunge of the Campbell shear.

The extended Option Agreement to six (6) years provides the Company more time to complete its evaluation before exercising its option to purchase 100% of MNML, the owner of the past-producing Con Mine, which produced more than 6.1 Moz (averaging 16 to 20 g/t Au) along the Campbell and Con Shear structures. Completion of the Option Agreement will consolidate the Company's strategic land position in the prolific Yellowknife Gold Belt (shown in Figure 1 below) and provide potential future development optionality. The former Con Mine is a world-class gold deposit and part of the prolific Yellowknife mining camp. (refer to Gold Terra Oct 21, 2022, Technical Report).

So handeln Sie das Kursziel

Der Analyst erwartet ein Kursziel von 2776,19$, was eine Steigerung von +5,00% zum aktuellen Kurs entspricht. Mit diesen Produkten können Sie die Kurserwartungen des Analysten übertreffen.

 

Morgan Stanley

 

Alle Partner

Übernehmen

Für Ihre Einstellungen haben wir keine weiteren passenden Produkte gefunden.
Bitte verändern Sie Kursziel, Zeitraum oder Emittent.Alternativ können Sie auch unsere Derivate-Suchen verwenden
Knock-Out-Suche | Optionsschein-Suche | Zertifikate-Suche

WerbungDisclaimer