Business
Metalla Completes Acquisition of Royalty on Fifteen Mile Stream and Provides Asset Update
Metalla Completes Acquisition of Royalty on Fifteen Mile Stream and Provides Asset Update ...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n\n\n\nMetalla Completes Acquisition of Royalty on Fifteen Mile Stream and Provides Asset Update\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 16, 2019\n\n\n\nAll amounts expressed in Canadian Dollars unless otherwise noted \nTSXV: MTA OTCQB: MTAFF\n VANCOUVER, Aug. 16, 2019 /CNW/ - Metalla Royalty & Streaming Ltd. (\"Metalla\" or the \"Company\") (TSXV: MTA) (OTCQB: MTAFF) is pleased to announce that the Company has completed the closing on its previously announced acquisition of a 3.0% NSR royalty on St Barbara Ltd.'s Fifteen Mile Stream project for $2 million from a third party in accordance with a purchase and sale agreement. As consideration for the transaction, Metalla has made an upfront payment of $0.5 million in cash, with an additional payment of up to $1.5 million upon the exercise of the royalty payor's buy-back right to purchase two-thirds of the 3.0% NSR royalty for a period of five years. \nPORTFOLIO UPDATE\nSanta Gertrudis (2.0% NSR Royalty)\nAgnico Eagle Mines Limited (\"Agnico Eagle\") reported on July 24, 2019 that they continue to expand mineralization at the Santa Gertrudis project in Mexico. The Trinidad zone has been extended by 800 meters to more than 3 kilometers strike length. Drilling extended the newly discovered Amelia deposit to a 700-meter strike length and a total depth of 450 meters. Notable intercepts by Agnico Eagle include 8.2g/t gold over 7.3m and 8.8g/t gold over 6m.\n\nMoreover, drilling at the Becarros zone has discovered new mineralization known as the Bertha target, located 250m northwest of the Becerros Norte deposit; highlighted by 2.1g/t gold over 9.5m; 150m to the south west and 3g/t over 8m. Half of the 2019 supplementary 11,500m drill program continues at Santa Gertrudis intending to explore new targets and expand the mineral resources. Agnico has stated they continue to believe that the Santa Gertrudis project has the potential to eventually be a similar size operation to the La India Mine.\n\nEl Realito (2.0% NSR Royalty)\nAt El...