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Maverix Metals Completes Acquisition of Additional Royalty on the Hope Bay Mine
Maverix Metals Completes Acquisition of Additional Royalty on the Hope Bay Mine Ca...
About this update from Mustang Minerals Limited
[{"type":"text","content":"\n\n\n\nMaverix Metals Completes Acquisition of Additional Royalty on the Hope Bay Mine\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 16, 2019\n\n\n\nVANCOUVER, Aug. 16, 2019 /CNW/ - Maverix Metals Inc. (the \"Company\" or \"Maverix\") (NYSE American: MMX, TSX: MMX) is pleased to announce that it has completed the acquisition of an additional net smelter return (\"NSR\") royalty on the Hope Bay mine (\"Hope Bay\") in Nunavut, Canada, owned and operated by TMAC Resources Inc. (\"TMAC\"). Maverix now holds a 2.75% NSR royalty on Hope Bay effective from August 1, 2019. The 2.75% NSR royalty will reduce to 2.5% upon registration of the royalty against the property.\n\n \n \n\n \nTMAC continues to optimize the established operations and expects Hope Bay to produce over 160,000 ounces of gold in 2019.1\nMaverix has drawn on its existing credit facility to fund the acquisition.\nFor additional information on the transaction, please refer to Maverix's news release dated August 14, 2019, available at www.maverixmetals.com.\nAbout Hope Bay\nHope Bay is an 80 km by 20 km Archean greenstone belt located in Nunavut, Canada. Hope Bay is a high-grade gold district with established Measured and Indicated Mineral Resources totaling approximately 4.81 million ounces of gold at an average grade of 8.3 g/t Au and Inferred Mineral Resources totaling approximately 1.62 million ounces of gold at an average grade of 6.9 g/t Au. Proven and Probable Mineral Reserves total approximately 3.59 million ounces of gold at an average grade of 6.8 g/t Au (estimates have an effective date of December 31, 2018. Mineral Resources are inclusive of those resources converted to Mineral Reserves).2\nFor further information on Hope Bay, please visit www.tmacresourc...