Mining Company to Acquire Copper-Gold Property in Yukon
The new acreage will expand Triumph Gold's already district-scale land package in the Canadian territory.
In a news release, Triumph Gold Corp. (TIG:TSX.V; TIGCF:OTCMKTS) announced it entered into an agreement with Teck Resources for the acquisition of the Big Creek copper-gold property in the Yukon. Triumphit will issue Teck Resources 1.25 million common shares and grant it a 1.5% net smelter returns royalty.
Big Creek encompasses 258 contiguous quartz mining claims in the Yukon's Whitehorse Mining District.
It borders Triumph's 100% owned Tad/Toro property, "significantly expanding the company's interest in the Dawson Range Gold District.""The adjoining properties are located along the prolific Big Creek Fault and the planned extension of the Mt. Freegold Road by the Yukon Resource Gateway Project," the company noted. "The existing 85-kilometre-long Mt. Freegold Road provides access to all portions of the Company's flagship Freegold Mountain Project located approximately 15 kilometers southeast of the newly acquired Property. The Yukon Government recently announced a second Resource Gateway Project agreement with Little Salmon/Carmacks First Nation, involving mining-standard upgrades to the three bridges along the existing Mt. Freegold Road."
The securities that will be issued will be subject to a four-month hold period, the company noted.
"Triumph Gold Corp. is a Canada based, growth-oriented precious metals exploration and development company with a district scale land package in mining friendly Yukon," the company stated.
Read what other experts are saying about:
Triumph Gold Corp.[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Triumph Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Triumph Gold, a company mentioned in this article.