Business
Allegiant Partner Completes Option Exercise for Bolo Elects the Option to Acquire 75% of Bolo
(TheNewswire) Tonopah, Nevada – TheNewswire - March 16, 2023...
About this update from A2 Gold Corp.
[{"type":"text","content":"Allegiant Partner Completes Option Exercise for Bolo Elects the Option to Acquire 75% of Bolo\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Tonopah, Nevada –\n \n \n TheNewswire -\n \n \n March 16, 2023 - Allegiant Gold Ltd.\n(“Allegiant” or the “Company”) (TSXV:AUAU) (OTC:\n \n \n AUXXF\n \n \n )\n \n \n announces that CopAur Minerals, Inc.\n(“CopAur”) has completed the terms of the option agreement to\nearn-into 50.01% of Allegiant Bolo project (“Bolo”) and has\nelected the option to acquire 75% of the project.\n \n \n \n \n Allegiant was informed by CopAur that it had met the\nUS$1.5 million work requirement on Bolo for calendar year 2022,\nthereby having met all terms of the option agreement signed between\nAllegiant and Barrian Mining Corp in 2018.  Barrian (later renamed\n“New Placer Dome Mining”) was acquired by CopAur in December 2022\nand assumed the option agreement.  The original terms of the\nagreement required CopAur to spend a total of US$4 million on a work\nprogram at Bolo while making staged option payments to Allegiant for a\ntotal of US$1 million in order to earn-into a 49.99% working interest.\n CopAur could subsequently elect the option to acquire an additional\n25% of Bolo (a total of 75% working interest) by spending an\nadditional US$4 million within two years.  By electing this option,\nCopAur is granted an additional 0.02% working interest for a total of\n50.01% and is the current operator of the project.\n \n \n \n \n Peter Gianulis, CEO of Allegiant\nGold, commented:\n \n \n “We welcome CopAur as an\nequity partner in our Bolo project and look forward to the upcoming\nwork program over the coming years.  Since our initial discovery of\nBolo in 2016, we believe Bolo to be one of the best prospective\nprojects in the State of Nevada.  This is a testament to the success\nof our farm-out business model that has provided Allegiant, and\nthereby our investors, with various paths to non-dilutive financings\nwhile our partners advance our projects.  We continue to advance\nEastside, our flagship project, and believe that Allegiant has\nmultiple paths to continue adding shareholder value.”\n \n \n \n \n ABOUT ALLEGIANT\n \n \n \n \n Alle...