GoldUSD 1,212.80
SilverUSD 14.27

Garrison Royalty

Royalties/Streams

Akasaba | Zaruma | Joaquin | Garrison | Endeavor | Hoyle Pond | West Timmins | DeSantis | NLGM Silver | Other Royalties

Summary

Metalla holds a 2% NSR royalty on a significant portion of the Garrison Project owned 100% by Osisko Mining Inc. (Osisko), including the claims which were the subject of an NI 43-101 compliant resource estimate in 2014 (see NI 43-1010 Resource Estimate below). The Project is situated directly on the prolific Destor-Porcupine Fault Zone (DPFZ) host to numerous gold mines. The royalty covers the Garrcon, JonPol, and eastern portion of the 903 deposit.

Osisko took over the Garrison Project in December 2015 when it acquired Northern Gold Mining Inc. (NGM) and announced the start of a 20,000 metre drill program in July 2016. To-date, it has drilled 85,000 metres and made 11 announcements of drill results (the most recent on January 31, 2018) on all three main deposits on the property which can be reviewed on its website at osiskomining.com

Interest: 2% NSR Royalty

Location: Ontario, Canada

Project Status: Development

Counterparty: Osisko Mining (TSE:OSK)

Garrison Project*

 Garrcon Tonnes Au gpt Ounces Au
Measured 15,100,000 1.07 521,000
Indicated 14,100,000 1.16 526,000
 Inferred (Pit) 1,700,000 0.72 39,000
 Inferred (Underground) 5,100,000 3.49 577,000
JonPol
 Indicated  872,000  5.34  150,000
 Inferred 1,073,000 5.56 192,000

Garrcon2-1

 

*The above table contains references to Inferred mineral resources. Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined economically. It cannot be assumed that all or any part of inferred mineral resources will ever be upgraded to a higher category. Mineral resources are not mineral reserves and do not have demonstrated economic viability.