- Val-d’Or Mining Corporation (VZZ) has entered into two option agreements with Eldorado Gold Inc., a subsidiary of Eldorado Gold Corporation (ELD)
- The options are for the Perestroika Ouest, Blue Mountain, and Victoria Creek properties in Quebec and Ontario
- All the properties optioned under the two agreements are prospective for gold
- Val-d’Or Mining Corporation (VZZ) is unchanged trading at $0.13 per share as of 2:47 p.m. EST
- Eldorado Gold Corporation (ELD) is down 1.52 per cent and is trading at $11.00 per share as of 2:46 p.m. EST
Val-d’Or Mining Corporation (VZZ) has entered into two option agreements with Eldorado Gold, a subsidiary of Eldorado Gold Corporation (ELD).
The first option agreement is for the Perestroika Ouest property in Quebec.
This agreement enables Eldorado to earn and acquire a 70 per cent interest in the Perestroika Ouest Property by spending a minimum of $1 million in exploration expenditures over a period of five years.
In order to earn and acquire an additional 10 per cent undivided interest in the property, Eldorado must contribute all joint venture expenditures on behalf of the parties and deliver to Val-d’Or a preliminary economic assessment report (PEA).
Val-d’Or will have a 20 per cent undivided beneficial interest in the Perestroika Ouest property and Eldorado will have an 80 per cent undivided beneficial interest.
The second option agreement is for the Blue Mountain property and the Victoria Creek property in Ontario.
This agreement allows Eldorado to earn and acquire a 70 per cent interest in the Blue Mountain and Victoria Creek properties by spending a minimum of $3 million in exploration expenditures over a period of five years.
To earn and acquire an additional 10 per cent undivided interest in the Blue Mountain and Victoria Creek Properties, Eldorado will contribute all joint venture expenditures on behalf of the parties and deliver a PEA report to Val-d’Or.
All the properties optioned under the two agreements are prospective for gold.
Val-d’Or Mining Corporation (VZZ) is unchanged trading at $0.13 per share as of 2:47 p.m. EST.
Eldorado Gold Corporation (ELD) is down 1.52 per cent and is trading at $11.00 per share as of 2:46 p.m. EST.
