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(Kitco News) - On Monday, Talisker Resources (TSX: TSK) announced that it has entered into a royalty agreement with Sprott Resource Streaming and Royalty in relation to the company’s 100% owned Bralorne gold project in B.C., Canada.
The company said that under the terms of the agreement, Sprott will pay Talisker up to US$31,250,000 for a net smelter returns royalty covering all minerals produced from the project.
The three historic mines of the Bralorne mine complex, Bralorne, Pioneer and King produced a total of 4.2Moz at an average recovered grade of 17.7g/t. Production closed in 1971 due to subdued gold price. On average, production at the Pioneer and Bralorne produced 2,300 ounces per vertical metre mined.
Inaugural mineral resource estimate for the Bralorne gold project includes 117,000 tonnes with an average grade of 8.9 g/t Au for 33,000 ounces of gold in the indicated category, and 8.0 million tonnes at 6.3. g/t Au for 1.6 million ounces of gold in the inferred category.
President and CEO Terry Harbort stated, “This non-dilutive funding package delivers a major catalyst to Talisker, providing the necessary capital for the pathway to long-term production at Bralorne. The flexible deal provides the necessary upfront funds for infill drilling and development while protecting the project’s considerable resource and exploration upside with buyback and capping optionality.”
Talisker is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker’s projects include the Bralorne gold complex and the Ladner gold project, both advanced stage projects, as well as its Spences Bridge project and several other early-stage greenfields projects.
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