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Kootenay Silvers Signs Option Agreement to Grant Centerra Gold Inc. Interest In The Two Times Fred Property In British Columbia, Canada
Kootenay Silvers Signs Option Agreement to Grant Centerra Gold Inc. Interest In The Two T...
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[{"type":"text","content":"\n \n \n \n Kootenay Silvers Signs Option Agreement to Grant Centerra Gold Inc. Interest In The Two Times Fred Property In British Columbia, Canada\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n March 30, 2021\n \n /CNW/ -\n \n Kootenay Silver Inc.\n \n (TSXV: KTN) (the \"Company\" or \"Kootenay\")\n \n \n is pleased to announce the signing of an option agreement with a wholly owned subsidiary of Centerra Gold Inc. (\"Centerra\"), whereby Centerra is granted an option to earn a 70% interest in the Two Times Fred property located in the Nechako Plateau of\n \n Central British Columbia\n \n .\n \n \n \n \n \n \n \n \n \n A total of\n \n C$6 million\n \n in exploration expenditures and\n \n C$500,000\n \n in cash payments must be incurred and made over a four-year period for Centerra to earn a 70% interest. The first year requires a work expenditure of\n \n $1 million\n \n with a minimum commitment of\n \n $650,000\n \n . Current plans for this year's work include up to 1,000 meters of trenching and 20 drill holes. Upon the fulfillment of these conditions, the two companies will enter a standard joint venture agreement with Kootenay retaining a 30% interest, and funding of further work will be done on a pro rata basis amongst the joint venture partners.\n \n \n \n \n James McDonald President\n \n and CEO of Kootenay Silver\n \n \n states\n \n \"We are very pleased to have signed an agreement with major gold producer Centerra Gold Inc. We look forward to benefiting from Centerra's expertise and consider their participation via the option agreement a reflection of our belief that Two Times Fred has the potential to host a gold deposit of significant size.\"\n \n \n \n Two Times Fred\n \n \n \n The Two Times Fred property is host to a large classic low-sulphidation epithermal gold vein system. It is a grass roots discovery made by the Kootenay Silver team. Over the past several years Kootenay has advanced the project with limited drilling, mapping, sampling, and geophysical surveys. The project comprises n...