- GoldHaven Resources (GOH) is acquiring five properties in Chile’s Maricunga gold belt region
- To earn a 100 per cent interest in the properties GoldHaven will need to issue six million shares, pay C$11.118 million in cash and perform 13,000 metres of exploration
- All five greenfield sites total more than 225 square kilometres of mineral tenement
- The properties neighbour the Salares Norte project, which is owned and operated by Gold Fields and has an estimated mineral resource of 4.1 million gold equivalent ounces
- GoldHaven Resources (GOH) remains unmoved and is trading at 42 cents per share
GoldHaven Resources (GOH) is acquiring five properties in Chile’s Maricunga gold belt.
The five properties cover a total of 22,600 hectares or 225 square kilometres, a huge swath of mineral tenement in the northern portion of the belt.
The properties are in the same neighbourhood as the Salares Norte project, owned and operated by Gold Fields Limited, which has an estimated mineral resource of 4.1 million gold equivalent ounces. The five properties are greenfield sites that have never been drilled.
The company will acquire the selling business in exchange for six million GoldHaven shares.
In order to secure 100 per cent of the property, Goldhaven will need to make cash payments to the underlying property owners of $11.118 million. Alongside this, Goldhaven also needs to complete a total of 13,000 metres of drilling.
In the fourth year, the company can elect to either pay for a preliminary economic assessment of the property, or it can complete a fourth drilling program on the property.
David Smith, President of GoldHaven Resources, said he was very encouraged by the quality of the technical information the company has received from the Maricunga project.
“We expect to enter into definitive agreements fort the properties in the near term and to be able to readily identify drill targets on these properties.
“We believe that this puts GoldHaven in a unique position amongst precious metals-focused junior resource companies in Chile,” he said.
GoldHaven Resources (GOH) remains unmoved and is trading at 42 cents per share at 12:30 pm EDT.