Kinross earn-in a ‘stamp of approval’ for Puma’s New Brunswick project
Canada-based Kinross Gold has agreed an option to earn a 65% interest in the Williams Brook project, in New Brunswick, by funding C$16.7-million in exploration drilling over five years, project owner Puma Exploration reports.
“We believe in the region’s potential to host Canada’s next major gold camp. I am delighted to welcome Kinross, the first major gold producer to establish a presence in New Brunswick,” says Puma president and CEO Marcel Robillard.
In the first 18 months, Kinross must spend C$2-million and commit to 5 000 m of drilling.
The drilling programme will continue to test and define the Lynx gold zone previously intersected by Puma (5.55 g/t gold over 50.15 m, 2.49 g/t gold over 63.05 m, 5.15 g/t gold over 23.15 m, 2.77 g/t gold over 42.80 m, 1.24 g/t gold over 98.05 m, 3.97 g/t gold over 22.10 m, 3.12 g/t gold over 35.35 m).
Robillard said Puma successfully defined the high-grade Lynx zone within four years and by only spending C$12.75-million.
“With juniors still struggling despite gold’s all-time high price, this significant injection of cash over the next five years, especially Kinross’s firm commitment over the next 18 months, will significantly accelerate exploration and unlock the project’s value.
“Kinross’ commitment represents a stamp of approval on Williams Brook’s potential, and having Puma as the operator speaks to Kinross’ confidence in the strength of our exploration team,” he said.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
