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Treasury Metals Completes Acquisition of Neighboring Goldlund Project, Consolidating an Emerging Canadian Gold District
Treasury Metals Completes Acquisition of Neighboring Goldlund Project, Consolidating an Em...
About this update from Nexgold Mining Corp.
[{"type":"text","content":"\n\n\n\nTreasury Metals Completes Acquisition of Neighboring Goldlund Project, Consolidating an Emerging Canadian Gold District\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\nCanada NewsWire\nTORONTO, Aug. 7, 2020\n\n\n\nTSX: TML OTCQX: TSRMF\n TORONTO, Aug. 7, 2020 /CNW/ - Treasury Metals Inc. (TSX: TML) (\"Treasury\" or the \"Company\") is pleased to announce that the Company completed its previously announced acquisition pursuant to a share purchase agreement (the \"Agreement\") with First Mining Gold Corp. (\"First Mining\") whereby Treasury acquired all of the issued and outstanding shares of Tamaka Gold Corporation (\"Tamaka\"), a wholly owned subsidiary of First Mining that owns a 100% interest in the Goldlund Gold Project (\"Goldlund\"), located adjacent to Treasury's Goliath Gold Project (\"Goliath\") in Northwestern Ontario (the \"Transaction\"). Matters related to the Transaction were approved by shareholders of the Company at the annual general and special meeting on August 5, 2020. \nGreg Ferron, CEO of Treasury, commented: \"Completion of this acquisition comes at a transformational time for our shareholders and solidifies the Goliath and Goldlund projects as among the largest undeveloped gold assets in Canada. The close proximity of the Goliath-Goldlund gold projects create a multi-million ounce, district-scale opportunity with significant resource growth potential. We are pleased to have added the Goldlund gold project into our development timeline, and combined with the existing infrastructure in the region, and pending further economic and technical evaluation, it is expected to generate substantial co-development synergies as the properties are further advanced.\"\nGoliath-Goldlund Program\nTreasury Metals has initiated a number of important work programs to advance both the Goliath and Goldlund gold projects. These activities include:\nCompletion of an economic evaluation of a Goliath plus Goldlund scenario. Technical studies are underway to support this analysis, including plant and processing facilities, mining optimization, and an evaluatio...