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Kootenay Resources Signs Option Agreement To Grant Centerra Gold Inc. Interest In The Copley Property In British Columbia, Canada
Kootenay Resources Signs Option Agreement To Grant Centerra Gold Inc. Interest In The Cop...
About this update from Centerra Gold Inc.
[{"type":"text","content":"\n \n \n \n Kootenay Resources Signs Option Agreement To Grant Centerra Gold Inc. Interest In The Copley Property In British Columbia, Canada\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 VANCOUVER, BC\n \n \n ,\n \n \n April 20, 2022\n \n \n /CNW/ -\n \n Kootenay Resources Inc. (the \"Company\" or \"Kootenay\")\n \n is pleased to announce the signing of an option agreement with a wholly owned subsidiary of Centerra Gold Inc. (\"Centerra\" TSX: CG and NYSE: CGAU), whereby Centerra is granted an option to earn a 70% interest in the Copley property located in the Nechako Plateau of\n \n Central British Columbia\n \n .\n \n \n \n \n \n \n \n \n \n A total of\n \n C$4 million\n \n in exploration expenditures and\n \n C$400,000\n \n in cash payments must be incurred and made over a four-year period for Centerra to earn a 70% interest. The first year requires a work expenditure with a minimum commitment of\n \n $250,000\n \n . Upon the fulfillment of these conditions, the two companies will enter a standard joint venture agreement with Kootenay retaining a 30% interest, and funding of further work will be done on a pro rata basis amongst the joint venture partners.\n \n \n \n James McDonald President and CEO of Kootenay Resources states\n \n \"We are very pleased to have signed an agreement with major gold producer Centerra Gold Inc. We look forward to benefiting from Centerra's expertise and consider their participation via the option agreement a reflection of our belief that the Copley property has the potential for the discovery of million ounce gold deposits.\"\n \n \n The Copley property is host to a large area of gold mineralization along a 6.5 km long trend. Key features include:\n \n \n \n \n Potential to host a Blackwater-type deposit\n \n \n \n \n 6.5x1.5 km EW belt of late-Cretaceous(?) rhyolitic flow domes and diatreme rocks\n \n \n \n \n Large zones of argillic, silicic, and sulphidic alteration related to magnetic-lows\n \n \n \n \n Surface...