Business
Dixie Gold Inc. Announces Agreement with Barrick Gold
(TheNewswire) Vancouver, British Columbia - TheNewswire - November 3,...
About this update from Dixie Gold Inc.
[{"type":"text","content":"Dixie Gold Inc. Announces Agreement with Barrick Gold\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n November 3, 2021 - Dixie Gold Inc.\n \n \n (TSX\n \n \n V\n \n \n :DG) (“\n \n \n Dixie\nGold\n \n \n ” or the “\n \n \n Corporation”\n \n \n ) is\npleased to announce that it has executed a definitive agreement with a\nsubsidiary of Barrick Gold Corp. (“\n \n \n Barrick Gold\n \n \n ”)\nwhereby Dixie Gold has granted the right to Barrick Gold, as operator,\nto earn-in on its Red Lake project (the “\n \n \n Red Lake Gold Project\n \n \n ”) situated near Red Lake, Ontario, Canada (the\n“\n \n \n Earn-In\nAgreement\n \n \n ”).\n \n \n \n \n “\n \n \n Today’s\nannouncement is a milestone event for Dixie Gold and its Red Lake Gold\nProject. We have been focused and patient in advancing our Red Lake\nGold Project since its acquisition less than 2 years ago. We believe\nour news today to platform-in Barrick Gold as the project partner\nspeaks to the tier-one potential of the asset and to our strategy.\nBarrick Gold is one of the world’s largest gold producers and their\ntechnical team represents the pinnacle of gold discovery\nexpertise.\n \n \n \n \n Our agreement with Barrick Gold not\nonly sets the stage for potentially millions of dollars of exploration\nwork, but it would also culminate in the definition of a significant\n43-101 gold resource prior to any project interest being assigned. As\nfurther outlined in this news release, the agreement reached with\nBarrick Gold also conditionally provides that Dixie Gold may request\nthat Barrick Gold assist with Dixie Gold’s share of potential mine\nconstruction costs, including the effective pass-through of Barrick\nGold’s cost of capital, a tremendous advantage for a junior\nexploration entity such as Dixie Gold.\n \n \n \n \n This unique and collaborative\nagreement between the teams at Barrick Gold and Dixie Gold sets the\nstage for significant project-advancement while positioning our\ncompany to sustain its compelling investor-focused share\nstructure\n \n \n ,” stated Ryan Kalt, Chairman &\nCEO of Dixie Gold.\n \n \n \n \n Through its Red Lake Gold Project, Dixie Gold holds a\nlarge district-scale gold expl...