Goliath Resources (GHRI) 0.0171 $GHRI
Comstock Announces Optioning Its Corona Property in Mexico
Marketwire Canada - Thu Jan 28, 6:08PM CST
Comstock Metals Ltd. (TSX VENTURE: CSL) ("CSL" or the "Company"
is pleased to announce that its joint venture ("JV" partner Golden Goliath Resources ("GNG" has confirmed that the Corona Gold-Silver Property in Mexico is one of seven mineral exploration properties in the Uruachic mining camp that have been optioned by Fresnillo PLC (See GNG December 7, 2015 News Release). The Company holds a 60% interest in the Corona Property through a Joint Venture with GNG and is entitled to a portion of the cash payments that will be made to GNG by Fresnillo PLC as per their option agreement ("GNG/Fresnillo Agreement". The portion of the payments specified in the GNG/Fresnillo Agreement that will be owed to the Company will be determined by a formula defined in the original JV agreement between GNG and CSL dated April 9, 2013. In order for Fresnillo to earn a 100% undivided interest (subject to a 1% net smelter royalty) in all seven of the Uruachi properties, Fresnillo PLC must make cash payments totaling US$3 million over 3 years, pay all mining rights and property taxes, and fund all assessment work required to keep the properties in good standing. Links to the related to the announcement of the GNG/Fresnillo Agreement are as follows;
CSL.VN: 0.280 (-0.020)
Comstock Announces Optioning Its Corona Property in Mexico
Marketwire Canada - Thu Jan 28, 6:08PM CST
Comstock Metals Ltd. (TSX VENTURE: CSL) ("CSL" or the "Company"
is pleased to announce that its joint venture ("JV" partner Golden Goliath Resources ("GNG" has confirmed that the Corona Gold-Silver Property in Mexico is one of seven mineral exploration properties in the Uruachic mining camp that have been optioned by Fresnillo PLC (See GNG December 7, 2015 News Release). The Company holds a 60% interest in the Corona Property through a Joint Venture with GNG and is entitled to a portion of the cash payments that will be made to GNG by Fresnillo PLC as per their option agreement ("GNG/Fresnillo Agreement". The portion of the payments specified in the GNG/Fresnillo Agreement that will be owed to the Company will be determined by a formula defined in the original JV agreement between GNG and CSL dated April 9, 2013. In order for Fresnillo to earn a 100% undivided interest (subject to a 1% net smelter royalty) in all seven of the Uruachi properties, Fresnillo PLC must make cash payments totaling US$3 million over 3 years, pay all mining rights and property taxes, and fund all assessment work required to keep the properties in good standing. Links to the related to the announcement of the GNG/Fresnillo Agreement are as follows; CSL.VN: 0.280 (-0.020)
