Business
Element79 Gold Updates on Nevada Portfolio Retention, Strategic Board Resolution to Streamline Battle Mountain Portfolio
Vancouver – TheNewswire - September 6, 2023 – Element79 Gold Corp. (CSE:ELEM), (FSE:7YS), (OTC:ELMGF) ("the Company") a mining company focused on Gold and Silve
About this update from Element79 Gold Corp.
[{"type":"text","content":"Vancouver – TheNewswire - September 6, 2023 – Element79 Gold Corp. (CSE:ELEM), (FSE:7YS), (OTC:ELMGF) (\"the Company\") a mining company focused on Gold and Silver asset development, is proud to provide an update on its Nevada Portfolio holdings, having renewed the claims at many of its Nevada properties, while the Board of Directors having also unanimously voted to surrender select non-core Battle Mountain project holdings. The Company confirms mining claims were renewed at: Maverick Springs: In following its core business plan, and its recently announced Option Agreement to sell its interest in the Maverick Springs project (News Release August 31, 2023), 247 unpatented claims, covering approximately 4,800 acres, straddling Elko and White Pine Counties. Clover and West Whistler: Two Battle Mountain Trend properties with strategic merit for exploration and resource development in the near term. Clover: 169 non-contiguous, unpatented claims covering 3,063 acres in Elko County, Nevada, within the Midas Mining District, approximately 16 miles West of Hecla Mining Company’s Midas Mine. West Whistler: covers 103 contiguous, unpatented claims located 9 miles NW of the town of Eureka, NV, in the Southeastern end of the Battle Mountain Trend near several gold deposits including Barrick's Cortez Mine. Properties included in the Valdo Sale Agreement (announced November 17, 2022 and extended May 30, 2023; updates on contract renewal pending shortly): The North Mill Creek Project - comprised of 6 unpatented claims located at the margins of the Goat Window in Lander County, Nevada. The Elder Creek Project - comprised of 23 unpatented claims, which cover the historic Elder Creek open-pit mine in Lander County, Nevada. The Elephant Project - comprised of 197 claims located at the foot of the mine dumps at Nevada Gold Mines' Phoenix operation. In addition to the above, in a meeting held on August 31, 2023, the Board of Directors of Element79 Gold Corp. resolved to surrender its interests in several properties within the Battle Mountain portfolio, a shared vision that aligns with the Company’s evolving business strategy. Through deliberation, forecasting and strategic planning, the Company has chosen to focus its efforts on the high-grade, past-pro...