- CopAur Minerals Inc. (CPAU) has made the final option payments to acquire Liberty Gold Corp.’s 79.99 per cent interest in Kinsley Gold LLC (the JVCO)
- Kinsley Gold LLC holds ownership and leasehold rights on 513 unpatented claims and 5 leased patented claims
- The claims cover 4,187 hectares and are known as the “Kinsley Mountain Project”
- Nevada Sunrise Gold Corporation, through its subsidiary Intor Resources Corporation, holds the remaining 20.01 per cent interest in the JVCO
- CopAur is a mineral exploration company
- Copaur Minerals Inc. was down 6.024 per cent, trading at $0.78 at 3:55 PM ET
CopAur Minerals (CPAU) has made the final option payments to acquire Liberty Gold Corp.’s 79.99 per cent interest in Kinsley Gold LLC.
Kinsley Gold LLC is a limited liability company holding ownership and leasehold rights on 513 unpatented claims and 5 leased patented claims. These claims which cover 4,187 hectares are known as the “Kinsley Mountain Project” and are located in southeast Elko County, Nevada.
Nevada Sunrise Gold Corporation, through its subsidiary Intor Resources Corporation, holds the remaining 20.01 per cent interest in the JVCO.
The final payments aggregate US$2.5M to Liberty Gold consisted of US$1,250,000 in cash and US$1.25M in CopAur common shares totalling 2,126,451 common shares.
Liberty Gold retains a 1 per cent NSR royalty on 79.99 per cent of all proceeds received by JVCO from the production and sale of all products produced from the Kinsley Project. The Company has an option to purchase 50 per cent of the Kinsley Royalty from Liberty Gold upon payment of US$500,000 in cash.
“I find it remarkable that we had the opportunity to acquire the Kinsley asset which hosts a significant gold resource including indicated resources of 418,000 ounces of gold grading 2.63 g/t Au (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes) in one of the world’s most prolific mining jurisdictions,” stated Jeremy Yaseniuk, Chief Executive Officer.
“Despite these significant gold resources, much of the property remains untested by drilling,”
CopAur is a Canadian exploration company focused on advancing its combined portfolio of gold and gold-copper projects located in British Columbia and Nevada.
Copaur Minerals Inc. is down 6.024 per cent, trading at $0.78 at 3:55 PM ET.