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Exploration|Gold|Mining|PROJECT
Exploration|Gold|Mining|PROJECT
exploration|gold|mining|project

Kirkland Lake to earn into Wallbridge’s Detour East

24th November 2020

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Gold miner Kirkland Lake has entered an option to earn a 75% interest in exploration and development firm Wallbridge Mining’s Detour East project, located about 11 km east of the Detour Lake gold mine.

To earn a 75% interest, Kirkland Lake will have to spend a total of $35-million and it will have the right to act as operator of the project.

In the initial five-year period, Kirkland could acquire an undivided 50% interest in the property by funding Phase 1 expenditures of $7.5-million. At that point, the companies will form a joint venture on Detour East and Kirkland will have the right to acquire an additional 25% interest in the property by incurring a further $27.5-million.

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Edited by Creamer Media Reporter

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