- Dryden Gold (TSXV:DRY) has entered into a purchase agreement to acquire 100 per cent ownership of 32 tenured mineral claims close to Cross River Ventures
- The property is located across from the Gold Rock Mining Camp and is near the company’s Kenwest patented claims
- The company anticipates begin work on the claims as early as Q2 2024
- Shares of Dryden Gold are down 4.44 per cent to C$0.22 as of 11:34 a.m. ET
Dryden Gold (TSXV:DRY) has entered into a purchase agreement to acquire 100 per cent ownership of 32 tenured mineral claims close to Cross River Ventures.
In a statement, the company said the new claims are located in the historic Gold Rock Mining Camp and is contiguous to Dryden Gold’s Kenwest patented claims.
“We are excited to add such a strategically placed property to our land package in the Gold Rock Camp. While this may not be our last acquisition in the Dryden district, it is expected to be one of the most important,” Trey Wasser, CEO of Dryden Gold, said in a statement.
The company said that because it has an active drill permit it will be able to begin work as early as Q2 2024.
Under the terms of a previous agreement, Dryden Gold has made a cash payment of $175,000 to Cross River for the acquisition of the property in 2023.
Dryden Gold issued 400,000 common shares at a price of C$0.22 per share.
With its headquarters out of Vancouver, B.C., Dryden Gold is an exploration company focused on discovering high-grade gold mineralization.
The company controls 100 per cent interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold’s property package includes historic gold mines but has seen limited modern exploration.
Shares of Dryden Gold are down 4.44 per cent to C$0.22 as of 11:34 a.m. ET.
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