https://www.engineeringnews.co.za

Leocor Ventures and Nexus Gold partner on Dorset gold project

24th April 2020

By: Donna Slater

Features Managing Editor and Chief Photographer

     

Font size: - +

British Columbia-based Leocor Ventures has entered into a definitive property option agreement with gold explorer and developer Nexus Gold to cooperate in the development of the recently acquired Dorset gold project, in Newfoundland and Labrador.

The agreement, dated April 22, replaces the letter of intent between Leocor Ventures and Nexus, and is subject to approval of the TSX-V.

In order to exercise the option, Leocor must make cash payments to Nexus of C$1.25-million over four years, with the first C$100 000 due on the date the TSX-V approves the option agreement. In addition, Leocor must incur work expenditures of C$1.5-million over five years. Meeting these terms will enable Leocor Ventures the right to acquire up to a 100% interest in the Dorset project, south of the Pine Cove gold mine.

The Dorset project is subject to a 2% net smelter returns royalty on commercial production in favour of United Gold and Margaret Duffit, 50% of which may be purchased at any time for a cash payment of $1-million.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.059 0.718s - 140pq - 2rq
Subscribe Now