Homestake buys royalty on namesake project

Homestake Resource Corp. May 16 agreed to purchase from Teck Resources Ltd. a 2 percent net smelter return royalty on mineral claims forming a portion of the Homestake Ridge property in northwestern British Columbia.

Teck also held rights to purchase another 2 percent NSR on other mineral claims from its holder for C$1million within 60 days from start of commercial production from the claims.

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