CORAL SPRINGS, FL, May 25, 2016 /CNW/ - Precious metals
sectors are experiencing rough market conditions of late but are still expected to see a CAGR of over 4% throughout the next four
years as demands have reached record highs coming off 2015. With a fast start underway in 2016, miners are hoping to
experience growth opportunities with new acquisitions and project advancements even though the sector is currently going through
ups and downs, trying to rebounds from recent developments.
Forging forward with a recent acquisition news: ALTAIR GOLD INC. (TSXV: AVX) - Mr.
John Huguet, Chairman of the Board, is pleased to announce the signing of a Binding Letter of
Intent, with an arm's length company, to acquire 100% of Epic Mining Corp. which in turn owns 99% of Panamericana SAC.
Panamericana SAC owns a resource property in Peru covering approximately 900 hectares.
Read the full Altair Gold (AVX.V) at http://www.financialnewsmedia.com/profiles/avx.html
Through the acquisition, Altair will hold 100% of the rights, title and interest in the 900 Ha Lejin property. 700 Ha of the
Leijin property is surrounded on three sides by Hudbay Minerals Inc.'s (TSE: HBM.TO) holdings adjacent to their
Constancia Mine in the Province of Chumbivilcas in southern Peru. HudBay invested
$1.7 billion in the construction of the Constancia Mine and achieved commercial production in
April 2015. The Constancia Mine is an open pit operation with a 22 year life primarily
extracting copper with additional molybdenum and silver credits. Limited sampling conducted on the Lejin property has detected
traces of alteration suggesting the potential for copper mineralization. On closing of the acquisition the Company will
consider an exploration program to test targets on the properties.
In other developments and market activity of interest in the Precious Metals sectors: Brazil Resources
Inc. (TSXV: BRI) announced recently the results of a National Instrument 43-101 ("NI 43-101") mineral resource estimate
for the Raintree West deposit, one of several porphyry centers identified on the Whistler Project, Alaska . The 100%-owned district-scale Whistler Project (170 sq km) is located 150 kilometres northwest of
Anchorage, Alaska. Garnet Dawson , CEO, stated: "We are pleased to report this maiden NI
43-101 resource estimate for the Raintree West deposit, which builds on the multi-million ounce gold resource reported over the
last year on the Whistler Project. This estimate increases BRI's indicated resource to 3.2 Moz gold (4.2 Moz gold equivalent) and
our inferred resource to 7.0 Moz gold (9.1 Moz gold equivalent; Table 4). In conjunction with advancing our existing project
portfolio, the Company continues to evaluate resource-stage projects in the Americas for potential acquisition."
Goldcorp Inc. (TSE: G.TO) and Kaminak Gold Corporation (TSXV: KAM) ("Kaminak") recently announced
that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which Goldcorp has agreed
to acquire, by way of a plan of arrangement (the "Arrangement"), all of the outstanding shares of Kaminak. The total
consideration offered for all of the outstanding shares of Kaminak is approximately C$520
million.
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