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TDG Gold Completes Acquisition of Oxide Peak Mineral Tenures, Toodoggone District
WHITE ROCK, BC / ACCESSWIRE / March 14, 2024 / TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG")...
About this update from Tdg Gold Corp
[{"type":"text","content":"TDG Gold Completes Acquisition of Oxide Peak Mineral Tenures, Toodoggone DistrictWHITE ROCK, BC / ACCESSWIRE / March 14, 2024 / TDG Gold Corp. (TSXV:TDG) (the \"Company\" or \"TDG\") is pleased to announce the completion of acquisition of a 100% interest in the Oxide Peak mineral tenures (\"Oxide Peak\") located in the Toodoggone District of north-central B.C.Oxide Peak covers 8,490 hectares of prospective exploration ground1 to the north of, and contiguous with, TDG's Baker Complex. Since signing the initial option agreement with ArcWest Exploration Inc. (\"ArcWest\") in December 2019 (the \"Option Agreement\"), TDG has completed approximately $3.3 million of exploration expenditures on Oxide Peak, including 2,050 metres of diamond drilling and identifying several targets1 prospective for the discovery of porphyry copper +/- gold systems.Fletcher Morgan, TDG's CEO, commented: \"Our two most recent news releases (Feb 28, 2024 and Mar 07, 2024) highlighted our progress redefining TDG's 100% owned Baker Complex, showing its potential1 to host multiple intrusive-related copper-gold-molybdenum porphyries1. Closing the acquisition of the Oxide Peak project enables us to include a portion of the Oxide Peak mineral tenures within the Baker Complex, as we advance our dialogues for a potential joint venture partner to drill test the new porphyry targets1 we have identified.\"Per the terms of the Definitive Purchase Agreement announced Feb 14, 2024, TDG has paid $100,000 and issued 412,031 common shares of TDG (the \"TDG Shares\") to ArcWest. TDG has also granted a 2% net smelter returns royalty on Oxide Peak to ArcWest, of which 1% may be repurchased by TDG for $1.0 million. The TDG Shares will be subject to a four-month hold period under applicable securities laws expiring July 15, 2024, as well as certain orderly sales requirements agreed to between TDG and ArcWest. The former option agreement with ArcWest in respect of the Oxide Peak property has been terminated.Qualified PersonThe technical content of this news release has been reviewed and approved Steven Kramar, MSc., P.Geo., Vice President, Exploration for TDG Gold Corp., a qualified person as defined by National Instrument 43-101.1Mineral Exploration/Exploration Target Area(s): Exploration targets and/or Exploration zones and/or Exploration areas are speculative and there is no c...