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Roughrider Signs Definitive Agreement to Acquire Properties in Golden Triangle and Appoints New CEO and Two New Directors
Not for Distribution to U.S. Newswire Services or for Dissemination in the United States. An...
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[{"type":"text","content":"Roughrider Signs Definitive Agreement to Acquire Properties in Golden Triangle and Appoints New CEO and Two New DirectorsNot for Distribution to U.S. Newswire Services or for Dissemination in the United States. Any Failure to Comply with this Restriction May Constitute a Violation of U.S. Securities Laws.VANCOUVER, BC / ACCESSWIRE / November 8, 2019 / Roughrider Exploration Limited (TSXV:REL) (\"Roughrider\" or the \"Company\") is pleased to announce that it has entered into a definitive agreement (\"Definitive Agreement\") with Cazador Resources Ltd., a private BC Company, Rene Bernard, an individual and Elemental Capital Partners LLP, a private BC Partnership, each of which is an independent party at arm's length to the Company (collectively \"the \"Vendors\"), to acquire a 100% interest in the Gin, Eldorado and Bonanza properties located adjacent to Newcrest Mining and Imperial Metals Red Chris Mine in the Golden Triangle Area of northwest B.C. (collectively the \"Red Chris Area Properties\" or the \"Properties\") for an aggregate consideration of 11,000,000 Roughrider shares (the \"Transaction\"). Upon closing, Mr. Adam Travis will be appointed CEO and Director of Roughrider and Dr. Fletcher Morgan will also be appointed a Director of Roughrider.Exploration and Strategic PotentialThe Properties are located in the heart of the Red Chris Camp within British Columbia's Golden Triangle (see Figure 1) and are adjacent to ground held by Imperial Metals Corp. which includes the producing Red Chris Mine¹. In August 2019, Imperial Metals sold a 70% interest in Red Chris to Newcrest Mining Ltd. for approximately US$775million.Figure 1Roughrider is pleased to be able to secure ground in the Red Chris Area joining other companies such as Newcrest/Imperial, GT Gold Corp, Skeena Resources Ltd and Colorado Resources Ltd¹. Recent notable investments in the immediate area by both Newcrest and Newmont attest to the copper-gold potential of this area.Red Chris Area PropertiesEldorado & Bonanza PropertiesEldorado and Bonanza border the eastern side of the Red Chris Mine property and occur along geological trend to the east hosting mineralized intrusions and volcanics (see Figure 1).Gin PropertyThe Gin Property borders the western side of the Red Chris property and is adjacent to both Colorado's North ROK property (southern...