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Agreement - Golconda Gold Property Nevada USA
Agreement - Golconda Gold Property Nevada USA.
About this update from Power Metal Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3083A\n Power Metal Resources PLC\n 01 June 2021\n \n \n \n \n 1 June 2021\n Power Metal Resources PLC\n (\"Power Metal\" or the \"Company\")\n Agreement - Golconda Gold Property Nevada USA\n Company has Signed an Assignment and Assumption Agreement Allowing it to Earn a 100% Interest in the Golconda Summit Gold Property Located in Nevada, USA\n \n Power Metal Resources PLC (LON:POW) the AIM listed metals exploration and development company is pleased to announce the execution of an Assignment and Assumption Agreement (the \"Agreement\") between its wholly-owned subsidiary Golden Metal Resources Ltd. (\"Golden Metal\") and GR Silver Mining Ltd. (\"GR Silver\").\n The Agreement gives Golden Metal an option to earn-in to 100% of the Golconda Summit Gold Property (\"Golconda Summit\" or the \"Property\") located in central Nevada, USA.\n Paul Johnson, Chief Executive Officer of Power Metal Resources, commented:\n \"We recently formed Golden Metal to act as a holding company for new acquisitions of precious and base metal projects located in North America and I am pleased to announce this first transaction within the mining friendly state of Nevada.\n The option agreement on the Golconda Summit Gold Property gives the Company exposure to an exciting carlin-type gold project located in the highly gold endowed Great Basin district at the confluence of the prolific Battle Mountain-Eureka and Getchell gold trends. \n I look forward to updating the market with further information on the Property in the coming weeks.\"\n Vendor and Property Information\n \n GR Silver Mining Ltd is a Vancouver based publicly traded (TSX-V:GRSL) junior mining company focused on advanced stage silver-gold assets in Mexico. \n \n \n GR Silver has held an option agreement since 11 August 2017, to earn-in to 100% of the Golconda Summit Gold Property from the underlying vendor Eureka Resources Conversion LLC (\"Eureka Resources\"), a private Nevada based company.\n \n \n Golconda Summit is an early-stage gold exploration project comprising 44 current\n Bureau of Land Management (\"BLM\") Lode Claims held in the name of Eureka Resources.\n \n \n The Property is located approximately 15km east of to the town of Winnemucca, at the confluence of the prolific Battle Mountain-Eureka Trend and Getchell Trends and wi...