- Stallion Gold Corp (STUD) has signed an option agreement to acquire 100 per cent interest in the Richmond Mountain Gold Project
- The project is owned by Bronco Creek Exploration Inc., a wholly-owned subsidiary of EMX Royalty Corporation (EMX)
- Stallion can earn 100 per cent interest in the project by making execution and option payments totalling US$500,000 over a five-year option period
- It can then complete US$1,500,000 in exploration expenditures before the fifth anniversary of the agreement
- Stallion Gold is a mineral exploration company focused on the exploration of precious metals and critical minerals
- Stallion Gold Corp. is up 12.50 per cent, trading at $0.27 at 10:30 AM ET
Stallion Gold Corp (STUD) has signed an option agreement to acquire 100 per cent interest in the Richmond Mountain Gold Project in Nevada.
The project is owned by Bronco Creek Exploration Inc., a wholly-owned subsidiary of EMX Royalty Corporation (EMX).
The project is a Carlin-style gold project located in the Eureka district of central Nevada, a district that has recently seen a resurgence in major exploration activity with the acquisition of the past producing Ruby Hill Mine by i-80 Gold Corp. in 2021.
“We are excited to be bringing the Richmond Mountain gold project into the Stallion Gold stable as it aligns with our strategy of using modern exploration to advance underexplored projects with significant mineral endowment potential, that are near, or right next to multimillion ounce deposits,” stated Drew Zimmerman, Stallion Gold’s CEO.
The project is located at the southern end of the Battle Mountain-Eureka trend, roughly one km east of the town of Eureka and consists of 117 unpatented lode mining claims covering 9.6 square kilometres.
Stallion can earn 100 per cent interest in the project by making execution and option payments totalling US$500,000 over a five-year option period, and completing US$1,500,000 in exploration expenditures before the fifth anniversary of the agreement.
Upon completing the option earn-in, EMX will retain a 4 per cent NSR royalty interest on the project. The company has the ability to buy down the NSR to 2.5 per cent by completing an initial half-percent royalty buyback for a payment of $750,000 prior to the third anniversary of the option exercise.
If the first buyback is completed, an additional half percent can be bought back for US$1,000,000, and a third half percent increment for US$1,200,000 at any time prior to commercial production.
Stallion Gold is a mineral exploration company focused on the exploration of precious metals and critical minerals.
Stallion Gold Corp. is up 12.50 per cent, trading at $0.27 at 10:30 AM ET.
