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Austral Gold Announces Acquisition of New Dimension Resources´ Sierra Blanca Gold-Silver Project in Argentina
Austral Gold Announces Acquisition of New Dimension Resources´ Sierra Blanca Gold-Sil...
About this update from Capella Minerals Limited
[{"type":"text","content":"\n\n\n\nAustral Gold Announces Acquisition of New Dimension Resources´ Sierra Blanca Gold-Silver Project in Argentina\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.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, April 1, 2020\n\n\n\nVANCOUVER, April 1, 2020 /CNW/ - Austral Gold Limited (\"Austral\") (ASX: AGD; TSX-V: AGLD) and New Dimension Resources Ltd. (TSX-V: NDR) (\"New Dimension\") are pleased to announce that they have entered into an agreement for Austral to purchase an 80% interest in New Dimension's Sierra Blanca gold-silver project (the \"Project\") in Santa Cruz Province, Argentina for US$800,000 in cash and work commitments, with a 'follow-on' option to purchase the remaining 20% interest for an additional US$2,300,000 in cash and work commitments as detailed below (the \"Transaction\"). The Transaction is subject to the successful completion of due diligence, execution of a definitive agreement and certain undertakings from New Dimension, and is expected to close on, or before, 30 April, 2020.\nWith this transaction, Austral will expand the area of its Pingüino project by securing an additional 7,000 hectares, resulting in a new exploration cluster in the Province of Santa Cruz (Figure 1). \nHighlights of the transaction:Austral has agreed to purchase the first 80% interest in the New Dimension Argentine subsidiary that owns the Sierra Blanca project in two tranches through a combination of cash payments and project-level work commitments as follows:   \nTranche 1: Austral will acquire a 51% interest for US$100,000 in cash payments to New Dimension plus t...