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Minquest options another Yukon VMS

 

Last updated 3/22/2015 at Noon



Golden Predator Mining Corp. March 16 reported the finalization of a joint venture and option agreement with Minquest Ltd. - an Australia-based exploration company formerly known as Merah Resources - for the Marg volcanic associated massive sulfide deposit in the Yukon Territory.

Accessible via a 40-kilometer (25 miles) winter road from the town of Keno, Marg contains an indicated resource of 1.72 million metric tons grading 1.97 percent copper, 4.59 percent zinc, 2.4 percent lead, 59.72 grams per metric tons silver and 0.95 g/t gold; and an inferred resource of 4.8 million metric tons grading 1.81 percent copper, 4.64 percent zinc, 2.28 percent lead, 54.47 g/t silver and 0.77 g/t gold.

Minquest can earn a 25 percent interest in Marg by paying Golden Predator C$100,000 cash and issuing C$100,000 in Minquest common stock, half upon signing and half on the agreement's one-year anniversary, in addition to work commitments of C$2.4 million, including a mandatory C$500,000 requirement for Year 1.

The Australia-based explorer has additional options to incrementally increase its ownership to 51 percent with future payments and work commitments.

Minquest also holds an option to acquire a 75 percent interest in Pacific Ridge Exploration's Fyre Lake copper-cobalt-gold project in southeastern Yukon.

 

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