EMX Royalty offers four gold projects to Hochschild Mining
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(Kitco News) – EMX Royalty (TSXV: EMX) announced today that it has optioned its four precious metals projects, located in Idaho and Nevada, to Hochschild Mining.
In a statement, the company said the agreements with Hochschild provide EMX with work commitments and cash payments during the Hochschild acquisition period, and upon the acquisition of a given project, an NSR royalty of 4%, Advance Annual Royalty Payments and a Milestone Payments.
Under the agreements, Hochschild may acquire a 100% interest in each individual project by making option payments totaling $ 600,000, making exploration expenses of $ 1,500,000 before the fifth anniversary of a given agreement. and reimbursing EMX for the previous year’s holding costs.
When exercising an option, EMX will retain a 4% NSR royalty on a project. Hochschild will also make annual advance royalty payments of $ 50,000 which will increase to $ 100,000 upon completion of a preliminary economic assessment.
In addition, Hochschild will make project milestone payments in the amount of $ 500,000 upon completion of a PEA, $ 1,000,000 upon completion of a pre-feasibility study, and $ 1,000,000. upon completion of a feasibility study.
The three Idaho projects, Valve House, Timber Butte, and Lehman Butte are located in south and south-central Idaho. Valve House and Timber Butte harbor Carlin-style gold mineralization in potential carbonate-rich lithologies. Lehman Butte harbors epithermal-style veins in Eocene volcanic rocks and jaspers in older Paleozoic carbonate rocks.
The Speed ââGoat Project hosts a gold and copper target linked to an intrusion located in the great Battle Mountain-Eureka gold belt of north-central Nevada.
EMX is a precious metals, base and battery royalty company.
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