Pine Valley - Nevada Gold Mines (Barrick/Newmont JV)

Summary:

The Pine Valley royalty claims cover approximately 1,060 hectares of exploration land east and south of Nevada Gold Mines’s Goldrush deposit along the Battle Mountain-Eureka trend. Prior to the formation of the Nevada Gold Mines joint venture, Barrick has stated the Goldrush deposit is a large Carlin-type gold development project with initial production projected for 2021, which will progress toward a steady-state production of ~500Koz of gold per annum during its first full five years of operation(3). Goldrush’s reserve estimate is currently 2 million ounces at 9.7 g/t gold, which is exclusive of an additional measured and indicated resource estimate of 9.4 million ounces at 9.4 g/t gold(3). Barrick stated that mineralization at Goldrush is open along strike towards the north and east where the royalty property continues with the favorable stratigraphic host of the Goldrush, Cortez Hills, and Pipeline deposits, and has identified a mineral potential area known as Goldrush South(3) on the Anglo/Zeke and Pine Valley claims. This land package will complement and overlap a portion of Metalla’s Cortez trend royalty land package that it acquired in May 2020 and will provide Metalla with $100,000 per year in advanced royalty payments for the next 14 years or until commercial production is achieved on the claims. The royalty is subject to a buydown that expires in June 2022 of 1.5% for $1.5 million.

Interest: 3% NSR on Pine Valley claims

Location: Eureka County, Nevada

Project Status: Exploration

Counterparty: Nevada Gold Mines (Barrick/Newmont JV)

Barrick - Nevada Gold Mines

Subscribe for Updates