Business
Carlin Gold Announces Disposition of Yukon Properties
Vancouver, British Columbia--(Newsfile Corp. - September 13, 2022) - Carlin Gold Corporation (...
About this update from Carlin Gold Corporation
[{"type":"text","content":"Carlin Gold Announces Disposition of Yukon PropertiesVancouver, British Columbia--(Newsfile Corp. - September 13, 2022) - Carlin Gold Corporation (TSXV: CGD) (the \"Company\" or \"Carlin\") is pleased to announce it has transferred its remaining Yukon mineral properties to HighGold Mining Inc.(\"HighGold\"). The transfer is comprised of four separate properties (the \"Properties) totaling 1,023 claims and 21,000 ha (210 square km) which were part of a joint venture with HighGold.Agreement Terms Carlin has entered into an agreement with HighGold to transfer its interest in the Properties in consideration of a cash payment of $75,000 plus 200,000 common shares of HighGold, the issuance of which is subject to regulatory approval. Pursuant to the agreement, the Properties will be subject to a 0.5% net smelter returns royalty in favour of Carlin, which may be bought back by HighGold under certain conditions for a lump sum payment of $750,000.Background on the Yukon Properties The Properties were first staked between 2010 and 2011 as part of a major gold-focused grassroots exploration program in Yukon's Selwyn Basin carried out under a 50:50 Joint Venture between Constantine Metal Resources Ltd. (\"Constantine\") and Carlin. The original staking focused on areas with regional geochemical stream silt anomalies with elevated gold and pathfinder element anomalies with subsequent work including the collection of over 12,000 soil, stream sediment and rock samples across the greater land package. HighGold acquired its initial 50% interest in the Properties during the Company's formation through the Plan of Arrangement 'spin-out' from Constantine in 2019. Over the last three years, portions of the large property package were optioned off to Fireweed Zinc and Snowline Gold Corp. with Carlin and HighGold receiving certain NSR royalty rights and shares of each company. The purchase agreement announced today provides HighGold with 100% ownership of the remaining properties held under the original joint venture. About HighGoldHighGold is a junior mineral exploration company focused on high-grade gold projects located in North America. HighGold's flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in Southcentral Alaska, USA, which, according to HighGold's news release of August 25, 2022, contains an Indicated Resource of 3...