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Contact Gold Confirms Centerra Gold's Participation in Year Two of US$ 10 Million Earn in on the Green Springs Gold Project, Nevada
(TheNewswire) Vancouver, BC - TheNewswire - December 13, 2023 - Contact Gold Co...
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[{"type":"text","content":"Contact Gold Confirms Centerra Gold's Participation in Year Two of US$ 10 Million Earn in on the Green Springs Gold Project, Nevada\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC -\n \n \n TheNewswire -\n \n \n December 13, 2023 -\n \n \n Contact Gold Corp.\n \n \n (the “Company” or “Contact Gold”)\n(TSXV:C\n \n \n )\n \n \n (\n \n \n OTC:CGOLF)\n \n \n is pleased to confirm that a\nwholly-owned subsidiary of Centerra Gold Inc. (“\n \n \n Centerra\n \n \n ”) (TSX:\nCG) (NYSE: CGAU) has approved participation in the “Year Two”\nexploration program at the Company’s Green Springs oxide gold\nproject located on Nevada’s Cortez Trend (“Green Springs”).\n \n \n \n \n The Green Springs project is subject to a four-year,\nUS$10 million earn-in (the “Earn-in”) whereby a wholly-owned\nsubsidiary of Centerra Gold Inc. can, upon satisfaction of certain\nexpenditure and funding conditions, acquire a 70% interest in Green\nSprings.\n \n \n \n \n “We are pleased to confirm Centerra’s participation\nin Year 2 of the Earn-in, providing additional validation of the\nexploration potential at Green Springs, and a pathway to increased\nexploration across the property in 2024.”  said Matt Lennox-King,\nPresident & CEO of Contact Gold. “Year 1 of the Centerra\npartnership was extremely impactful, with multiple exceptional drill\nintercepts, and the development of compelling new drill targets.  In\n2023 we expanded the property boundaries, and doubled the area\npermitted for drilling.  We look forward to continuing the\npartnership with Centerra through 2024 and creating value at Green\nSprings through aggressively exploring the large number of targets\nacross the property.”\n \n \n \n \n Key Points:\n \n \n \n \n \n \n An exploration budget of US$ 2.0M is planned for Year\nTwo, funding up to 5,500 metres of reverse circulation drilling in 40\ndrill holes.\n \n \n \n \n \n \n oo\n \n \n Planned targets include:   \n    The Tango-Alpha-X-Ray trend, the southern extension of the Mine\nTrend, and the never before drilled Kilo, Oscar, Sierra, Whiskey, and\nFoxtrot targets.\n \n \n \n \n \n ...