Stakeholder Gold Corp. (TSX: V.SRC, Stock Forum) said that it has entered into an arm's length agreement with a syndicate of local prospectors, known as vendors, whereby it may earn a 100% interest in the 23-claim Sourdough Hill property located in the Keno Hill Silver Camp of central Yukon.
The Keno Hill Silver Camp, located approximately 330 kilometres north of Whitehorse, is historically one of the world's highest-grade silver districts with past production from more than 35 deposits.
According to the Stakeholder Gold press release, under the terms of the agreement, Stakeholder will have the option to earn a 100% interest in the Sourdough Hill property by paying $300,000 cash, issuing one million shares and completing $1,000,000 of work scheduled over a four-year period.
The vendors will receive a $15,000 annual advance royalty payment to start when a measured mineral resource equal to or greater than 2.0 million ounces of silver equivalent using a cut-off grade of 15 ounces silver per tonne is disclosed in a National Instrument 43-101 compliant report.
Stakeholder was created specifically to discover a new gold deposit in Canada's Yukon. The Company holds an ever expanding portfolio of underexplored properties in Yukon.
On Wednesday, Stakeholder’s stock was up 80% and was trading at $0.045 a share. The company has a market cap of $1.8 million, based on 40.9 million shares outstanding. The 52-week high and low was $0.14 and $0.02 respectively.