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Teck and Liberty Gold sell Turkey project

15th July 2019

By: Creamer Media Reporter

     

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Canadian companies Teck Resources and Liberty Gold have agreed to sell the Halilağa copper/gold porphyry deposit in north-western Turkey to Cengiz Holdings for $55-million in cash.

The Turkish construction, mining and energy group will pay Teck and Liberty in three stages, over a two-year period.

The consideration will be apportioned 60% to Teck and 40% to Liberty Gold, pro-rata to their ownership interests in the Halilağa project, in Biga province.

Liberty will continue to own 60% of the TV Tower project, also in the Biga province, that contains a large number of exploration targets ranging from high-sulphidation and low-sulphidation epithermal gold/silver and three drill confirmed porphyry copper-gold discoveries.

Liberty’s core focus, however, is on  exploring the Great Basin of the US, which stretches across Nevada and into Idaho and Utah. 

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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