The Hoyle Pond Extension Royalties are located on claims that are beneath the Kidd metallurgical complex and along strike to the east and northeast of the Hoyle Pond mine. To date, Goldcorp has drilled a total of 83,000m from surface and underground on the extension. Goldcorp has also completed the Hoyle Pond Deep Project at the cost of $194 million to access and develop the lower levels on the extension.
Metalla acquired a 1% NSR on Goldcorp’s Hoyle Pond Extension properties that includes:
Location: Timmins Ontario, Canada
Project Status: Producing (Since 1985)
Counterparty: Goldcorp (GG:NYSE)
Production: 160,000 ounces Au annually
Average grade: 14 gpt Au