- MAG Silver (MAG) has finalized its purchase of Gatling Exploration (GTR)
- Gatling’s flagship Larder Project is estimated to contain 388,000 oz gold indicated and 933,000 oz gold inferred
- MAG plans to continue exploration efforts on the project as soon as is feasible
- MAG Silver is a Canadian exploration and development company focused on district-scale silver‐gold dominant projects in the Americas
- MAG Silver (MAG) is down by 1.38 per cent trading at $18.285 per share
MAG Silver (MAG) has finalized its purchase of Gatling Exploration (GTR).
Gatling is a Canadian gold exploration company advancing its Larder Gold Project in Ontario’s Abitibi Greenstone Belt. The 3,370 ha project hosts three high‐grade gold deposits totalling 388,000 oz gold indicated and 933,000 oz gold inferred from both open pit and underground resources.
As previously announced, MAG issued 0.0170627 shares in exchange for each Gatling share.
The transaction values Gatling at C$0.40 per share, which represents a 47.4 per cent premium.
Gatling shares will be delisted from the TSXV at the close of trading on May 24, 2022.
MAG considers Larder to be highly prospective and intends to engage the existing team for further exploration.
MAG Silver is a Canadian exploration and development company focused on district-scale silver‐gold dominant projects in the Americas. It is currently active in Utah and Mexico.
MAG Silver (MAG) is down by 1.38 per cent trading at $18.285 per share as of 10:50 am EST.