Subscribe
Be the first with the news that moves the market- Golden Independence (CSE:IGLD) to acquire the Napoleon Project near Kamloops, British Columbia
- The project is comprised of 996 hectares in the Kamloops Mining Division
- Exploration in the area dates back to the 1970s and 1980s with gold grades ranging from 3.4 to 547 g/t gold
- Golden Independence CEO Jeremy Poirier said the company plans to begin an exploration program at the property in Q2 2023
- Shares of Golden Independence (IGLD) are up 11.25 per cent to C$0.45 as of 10:28 a.m. EDT on Friday
Golden Independence said on Friday it will acquire the Napoleon Gold Project near Kamloops, British Columbia.
The company said the project is comprised of 996 hectares in the Kamloops Mining Division, while exploration in the area dates back to the 1970s and 1980s.
Historic gold grades range from 3.4 to 547 g/t gold.
Golden Independence CEO Jeremy Poirier said the company plans to begin an exploration program at the property sometime in Q2 2023.
“This project complements our more advanced Independence joint-venture project in Nevada, which is host to a NI 43-101 Resource and PEA, and provides shareholders with exploration-stage exposure,” Poirier said.
In a press release, the company said the project is being acquired according to a three-cornered amalgamation with 1396791 BC Ltd.
According to an agreement entered into with the company, its subsidiary SubCo and 1396791, the latter two will form a wholly owned subsidiary of Golden Independence
The Napoleon Gold Project sits next to the Bonaparte deposit, which has had historic exploration including underground development, open pit mining and bulk sampling.
Shares of Golden Independence (IGLD) are up 11.25 per cent to C$0.45 as of 10:28 a.m. EDT on Friday
