https://www.miningweekly.com

Canadian project generator seeks to expand base metal/gold holdings

18th June 2018

By: Creamer Media Reporter

     

Font size: - +

Mineral exploration project generator Rainy Mountain Royalty, which acquires early stage exploration projects and delivers them drill-target ready to joint venture (JV) partners, is considering opportunities outside Canada, the TSX-V-listed company has revealed.

In a news release issued on Monday, Rainy Mountain stated that it was seeking to expand its base metal and gold holdings and reported that it was considering “more advanced” projects outside Canada.

In particular, Rainy Mountain has recently investigated a potential transaction to acquire a large land position in Namibia, covering old copper/gold/silver mine producers, the firm reported.

Currently, Rainy Mountain holds multiple property interests in Ontario and is focused on shear-hosted gold and base metals properties with associated gold and silver credits.

The company’s largest exploration project is the Marshall Lake copper/zinc/silver/gold exploration property, in Ontario, in which JV partner Copper Lake Resources (CPL) has recently earned 75% by spending $4-million on exploration. CPL has the option to increase its interest to 87.5% by taking the Marshall Lake property to bankable feasibility stage.

Rainy Mountain's most recent focus has been on the optioned gold exploration property, the Brunswick property, south of Timmins, Ontario. Having spent more than $1.1-million since 2016, the company is considering whether to invite a potential JV partner to participate in continuing exploration efforts on the property.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/03/2024)
15th March 2024 By: Martin Creamer
Gold, hydrogen, mining boost make headlines
Gold, hydrogen, mining boost make headlines
15th March 2024
Magazine round up | 15 March 2024
Magazine round up | 15 March 2024
15th March 2024

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







sq:0.123 0.16s - 106pq - 2rq
Subscribe Now