Will Add A Range Of Nevada Gold Assets
Premier Gold Mines Ltd (TSX:PG) and its wholly-owned subsidiary Premier Gold Mines USA, Inc. has entered into a definitive purchase agreement to acquire the Getchell Project in the Getchell gold belt near Winnemucca, Nevada.
In a deal with affiliates of Waterton Global Resource Management, Inc. the company will acquire the outstanding membership interests of Osgood Mining Company LLC, the owner of the Getchell Project for a consideration consisting of US$50 million in cash and common shares.
The Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend immediately south of Nevada Gold Mines’ Turquoise Ridge operation. Open pit mining occurred on the property between 1980 and 1999. Subsequent to that, underground test mining (the Pinson Mine) was conducted in the early 2010s. The mine has been in care and maintenance since 2015.
“We are very excited to add the Getchell Project to our already strong base of Nevada assets,” said Ewan Downie, Premier’s President and CEO.
“The property has a long track record of successful gold production and we believe that the open pit and underground gold historical resources at Getchell were amongst the highest-grade in North America based on historical work completed on the property and the property will form an integral part of our US-based activities.”
Premier has also agreed to terms to purchase additional properties adjacent to the Getchell Project.
