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Contact Gold Enters Into US$10m Earn-In With Centerra Gold On The Green Springs Gold Project, Cortez Trend, Nevada
(TheNewswire) Vancouver, BC - TheNewswire - December 9, 2022 - Contact Gold...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Enters Into US$10m Earn-In With Centerra Gold On The Green Springs Gold Project, Cortez Trend, 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 Vancouver, BC -\n \n \n TheNewswire -\n \n \n December 9, 2022 - Contact Gold Corp. (the\n“Company” or “Contact Gold”) (TSXV:C\n \n \n )\n \n \n (\n \n \n OTC:CGOLF)\n \n \n is pleased to announce that it has entered into a four-year,\nUS$10 million earn-in agreement (the “\n \n \n Earn-in Agreement\n \n \n ”)\nwith a wholly-owned subsidiary of Centerra Gold Inc. (“\n \n \n Centerra\n \n \n ”) (TSX:CG)\n(NYSE:CGAU) on the Company’s Green Springs oxide gold project\nlocated on Nevada’s Cortez Trend (“\n \n \n Green Springs\n \n \n ”).\n \n \n \n \n Pursuant to the Earn-in Agreement, Centerra has an\noption to acquire a 70% interest in Green Springs for cumulative\nearn-in exploration expenditures of US$10,000,000 and aggregate cash\npayments to the Company of US$1,000,000. The first-year work\ncommitment of US$1,500,000 is guaranteed.\n \n \n \n \n Contact Gold will remain project manager at Green\nSprings, with exploration led by Contact Gold’s Vice President of\nExploration, Vance Spalding.\n \n \n \n \n “We are very happy to be partnering with Centerra on\nthe Green Springs project.  Centerra is a renowned international gold\nproducer, and their partnership at Green Springs will allow us to\nsignificantly accelerate exploration at the project far beyond what\nContact Gold can accomplish in the current market.” said Matt\nLennox-King, President & CEO of Contact Gold. “Securing\nmulti-year funding for Green Springs allows Contact Gold to give the\nGreen Springs project the amount of exploration work it needs, and\ndedicate additional capital to our resource-stage Pony Creek gold\nproject, located on Nevada’s prolific Carlin Trend.”\n \n \n \n \n Highlights\n \n \n \n \n \n \n Centerra has made a cash payment of US$150,000 to\nContact Gold to secure the option.\n \n \n \n \n \n \n Centerra will solely fund a minimum commitment\n(\n \n \n Minimum\nCommitment\n \n \n ”) of US$1,500,000 in exploration\nexpenditures during the first year of the earn-in, or pay the\nd...