Business
Canadian gold producer Osisko Mining Corporation joins Global Geoscience to explore gold projects in Nevada, including Nubian's Excelsior Springs Gold project
VANCOUVER, Feb. 16, 2012 /CNW/ - Nubian Resources Ltd. is pleased to announce that Global G...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Feb. 16, 2012 /CNW/ - Nubian Resources Ltd. is pleased to\n announce that Global Geoscience Ltd (Global) and Osisko Mining\n Corporation (Osisko) have entered into a binding letter agreement\n covering Global's five gold projects in Nevada. Under the agreement and\n to earn a 45% interest, Osisko must fund all acquisition and\n exploration related expenditures on Global's five Nevada projects up to\n a cumulative total of US$8M over a maximum period of 4 years, which\n includes Nubian's Excelsior Springs Gold project. If Osisko then elects\n to increase its interest in Global's share of any project to 70% it\n will have the sole responsibility to fund the project through to\n completion of a bankable feasibility study and in doing so shall\n receive an interest of 70% of Global's 70% interest in Excelsior.\n Nubian had reviewed the agreement between Global and Osisko and\n withdraw from its Right of First Refusal in favour of Osisko. Nubian\n will maintain a Right of First Refusal regarding any future development\n at Excelsior.  For more details regarding the agreement please refer to\n Global's news release athttp://www.globalgeo.com.au/media/announcements/2012/120214a.pdf\n\n\nAbout Excelsior Springs\nNubian owns 100% of Excelsior Springs in Nevada covering 142 mining\n claims. Global holds an option to acquire a 70% interest in Excelsior\n by spending US$3 million over four years. In its first drill program at\n Excelsior in 2011, Global intersected significant gold mineralisation\n in shallow, wide spaced drilling over a strike length of 2.2\n kilometres.\n\n\nAbout Osisko Mining Corporation (TSX:OSK)\nOsisko Mining Corporation is an emerging North American gold production\n company with a market capitalisation of over C$4.5 billion. Osisko owns\n and operates the largest open pit gold mine in Canada, the Canadian\n Malartic mine in Quebec, which it took from first drill hole to\n commercial production in six years. Forecasted gold production for 2012\n is between 610 and 670 thousand ounces. Osisko is a pure gold company\n and is an active investor in greenfield exploration projects and\n opportunities. \n\n\nAbout Global Geoscience  (ASX:GSC)\nGlobal Geoscience is an Australian greenfield exploration company\n targeting gold, copper and silver on its mostly 100% owned projects in\n Ne...