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Brazil Resources completes acquisition of Whistler gold-copper project, Alaska
Highlights: Brazil Resources has acquired a 100% interest in the Whistler gold-copper ...
About this update from Goldmining Inc.
[{"type":"text","content":"\n\nHighlights:\n\n\nBrazil Resources has acquired a 100% interest in the Whistler gold-copper project in south-central Alaska; \nThe 170 sq km project hosts several gold-copper porphyry deposits, including the Whistler deposit, for which Kiska Metals Corporation previously completed a resource estimate, reporting an indicated resource of 2.25 million gold-equivalent ounces and an inferred resource of 3.35 million gold-equivalent ounces as detailed in Table 1 below. Brazil Resources is treating this estimate as a historic resource estimate and currently plans to engage a qualified person to complete the necessary work to verify the estimate on its behalf and to complete a NI 43-101 technical report for the Company; and \nWith a large historic resource and good exploration potential, the Whistler Project, at the low acquisition cost of 4.5% dilution, marks a significant milestone in the Company's strategy to increase shareholder value through accretive acquisitions during the current commodity downturn.\n\n\n\nVANCOUVER, Aug. 6, 2015 /CNW/ - Brazil Resources Inc. (the \"Company\" or \"Brazil Resources\") (TSX-V: BRI; OTCQX: BRIZF) is pleased to announce that it has completed the acquisition of 100% of the Whistler gold-copper project (the \"Whistler Project\" or the \"Project\") and certain related assets in south-central Alaska from Kiska Metals Corporation (\"Kiska\") as previously announced on July 21, 2015. Consideration under the transaction consisted of 3.5 million shares of Brazil Resources (the \"BRI Shares\"). The BRI Shares issued under the transaction are subject to escrow and release conditions over a 20-months period (for further details see the \"Transaction\" section of this news release below). The Whistler Project includes 304 Alaska State Mineral Claims, a 50-person all season exploration camp, airstrip and assorted equipment. \n\nGarnet Dawson, CEO of Brazil Resources, stated: \"The Whistler Project is a very exciting and timely addition for our Company. By leveraging the current commodity cycle downturn, we are building a quality multi-jurisdictional portfolio of projects throughout the Americas, while minimizing acquisition costs and dilution to our shareholders. Thus far, this strategy has yielded several accretive acquisitions, including the Cachoeira, Sao Jorge, Rea Uranium and the Whistler projects. We wi...