GREY:BPVID - Post Discussion
Post by
maypeters on Aug 04, 2013 11:25pm
Bruce Channel Deeps 2% NSR Royalty Acquisition
https://www.premierroyalty.com/premier-royalty-announces-q2-financials-release-date-and-corporate-update/
The Company further announces the acquisition of the “Bruce Channel Deeps” 2% NSR royalty in the heart of the Red Lake Gold Camp from an arm’s length 3rdparty for $225,000 cash. The royalty is registered on title against the Broulan Reef Property recently acquired by a joint venture between Goldcorp Inc. (G:TSX) and Premier Gold Mines Limited (PG:TSX).
The royalty covers what management believes may be the geological extension and possible down-plunge projection of the Bruce Channel deposit trend. The location of the property relative to the Bruce Channel deposit trend may be viewed at
https://www.premierroyalty.com/wp-content/uploads/Bruce-Channel-Deeps.pdf.
President and CEO Abraham Drost P.Geo., a Qualified Person under NI 43-101 has approved the technical content in this press release and states that, “we remain focused on investing in larger accretive cash-flowing or near term cash flowing royalty opportunities. The acquisition of the Bruce Channel Deeps 2% NSR royalty is an example of the Company’s coincident search for low cost potential “homerun” royalties in established mining camps.
Goldcorp is presently constructing a high speed tram line a mile underground to haul ore from the Bruce Channel deposit to its processing plant. Red Lake is well known for deeper ore bodies as exemplified by the High Grade Zone deposits starting at a depth of 4800 feet and being actively mined well below 5000 feet.”
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