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Aurion Signs Definitive Option Agreement with Kinross on the Silaskaira Property
Aurion Signs Definitive Option Agreement with Kinross on the Silaskaira Property ...
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[{"type":"text","content":"\n \n \n \n Aurion Signs Definitive Option Agreement with Kinross on the Silaskaira Property\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n ST. JOHN'S, NL\n \n ,\n \n Nov. 8, 2021\n \n /CNW/ -\n \n Aurion Resources Ltd.\n \n (TSX VENTURE: AU) (OTCQX: AIRRF)\n \n (\"Aurion\" or the \"Company\")\n \n reports that it has signed a formal definitive option agreement with Kinross Gold Corporation (TSX: K, NYSE: KGC); (\"Kinross\") granting\n \n Kinross\n \n the right to earn up to an undivided 70% interest in the 54.35 km\n \n 2\n \n , Silaskaira Property, which is located adjacent to the  Silasselkä Vanadium project, currently under option (see press release dated\n \n June 17, 2020\n \n ) to Strategic Resources Inc. (Aurion holds a ~16% equity interest in Strategic), and approximately 28 km northwest of Agnico-Eagle's Kittilä Mine.\n \n \n Figures associated with this release can be found on the Company's website through the following link:\n \n https://aurionresources.com/site/assets/files/1408/nr21-20figures.pdf\n \n .\n \n \n Under the terms of the agreement\n \n Kinross\n \n can earn a 70% undivided interest in the Silaskaira Property by incurring a minimum of\n \n USD$5,000,000\n \n in exploration expenditures on the property and paying Aurion\n \n CAD$100,000\n \n on, or before, the fifth anniversary of the agreement.\n \n Kinross\n \n has agreed to incur a minimum of\n \n USD$1,000,000\n \n in exploration expenditures on, or before, 24 months from the date of the agreement and will act as the operator.\n \n \n Should Aurion's interest in the joint venture be diluted down to 10% or less, Aurion's interest will be converted to a 2% Net Smelter Return (NSR) Royalty on the property.\n \n \n \"We are excited to work with\n \n Kinross'\n \n first class exploration team on the Silaskaira property,\" commented\n \n Matti Talikka\n \n , Aurion's CEO. \"The Silaskaira Property is located on the potential northern extension of the Hanhimaa Shear Zone, which hosts several gold occurrences currently ...