Enduro Metals concludes option to acquire Romios copper-gold project

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back

Related stories

Western Australia Iron Ore Discovery Reshapes Global Market

Western Australia is now the world's biggest iron ore...

Africa Gold Mines: Second Largest Acquires Yatela, Morila

The Yatela and Morila gold mines were formally taken...

Africa Rail Infrastructure Powers Mineral Trade Growth

Africa rail Infrastructure is getting a new lease of...

US Eyes Rubaya Mine in Congo for Coltan Reserves

In a recent move, the Democratic Republic of Congo...

Enduro Metals has completed the option to acquire a 100% stake in the Newmont Lake copper-gold project in British Columbia, Canada, from Romios Gold Resources.

According to the letter agreement signed with Romios in September 2018, Enduro Metals agreed to earn the remaining 436km² of the 653km² Newmont Lake Project in northwestern British Columbia’s Golden Triangle.

The deal required Enduro Metals to complete $6.3m (C$8m) in exploration expenditures over three years; making cash payments of $1.5m (C$2m) to Romios in trenches; and issuance of 12 million of Enduro shares.

This makes Enduro one of the largest landholders in the district. Romios Gold Resources, however, retains a 2% net smelter return royalty (NSR) in any future production from the 436km² optioned claim package.

Enduro has completed the final milestones required to earn a 100% interest in the project, which included the delivery of written notice to exercise the earn-in option and signing the net smelter return agreement. It also included making a $1m final payment.

Enduro president and CEO Cole Evans said: “Achieving this major milestone is particularly pleasing given the significant amount and time, resources, and dedication we have put into this project so far. With the option agreement now behind us, we can focus on our 2022 exploration program.”

The Newmont Lake property is situated between the former Eskay Creek mine and the Galore Creek copper-gold project.

These include high-grade epithermal/skarn gold along the McLymont Fault; high-grade epithermal/skarn silver/zinc at Cuba; copper-gold alkalic porphyry mineralisation at Burgundy; and a large geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt, and lead mineralisation along the newly discovered Chachi Corridor.

Latest stories

Related stories

Western Australia Iron Ore Discovery Reshapes Global Market

Western Australia is now the world's biggest iron ore...

Africa Gold Mines: Second Largest Acquires Yatela, Morila

The Yatela and Morila gold mines were formally taken...

Africa Rail Infrastructure Powers Mineral Trade Growth

Africa rail Infrastructure is getting a new lease of...

US Eyes Rubaya Mine in Congo for Coltan Reserves

In a recent move, the Democratic Republic of Congo...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back