on Lahontan Gold Corp. (CVE:LG)
Lahontan Gold Corp Expands Santa Fe Mine Project with New Claims
Lahontan Gold Corp announced the acquisition of 27 unpatented lode mineral claims from Emergent Metals Corp. This strategic move adds approximately 2.1 km2 to the Santa Fe Mine Project, expanding mineral rights south of the York Pit. The acquisition enables potential expansion of the York open pit and could significantly increase mineral resources.
The company will finalize a Definitive Agreement within 30 days and will pay Emergent's subsidiary $10,000 upon signing the term sheet. Lahontan will also issue a $50,000 promissory note and 2,000,000 shares to Emergent, with a 1% NSR royalty on the York Claims offered as part of the deal.
The addition is expected to facilitate greater mineral resource estimation and expansion at the Santa Fe Mine. This follows recent exploration drilling, advancing the project's growth and shareholder value.
R. E.
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