Company
CVE:LEO
Lion Copper & Gold is unlocking one of the most promising brownfield copper assets in the U.S. With established infrastructure, near-surface copper reserves, and a clear path to copper cathode production in one of the best global permitting jurisdictions, the project is primed for rapid development and long-term growth.
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Lion Copper and Gold will recover the water permit designated for mining and milling use and will return a US$1 million deposit to Desert Pearl Farms, it said in a statement
"We appreciate having quickly attained Stage 1 agreement with Rio Tinto's NutonTM team and look forward to further advancing the MacArthur and Yerington projects,” Travis Naugle, Lion CG's CEO said
The agreement, struck in March 2022, gives Rio Tinto the option to earn up to a 75% interest in Lion CG’s Mason Valley, Nevada assets, which include the historic Yerington mine and the MacArthur, Wassuk and Bear properties and associated wa
Lion Copper and Gold received 16,049,444 common shares of 1301666 BC, it said, while concurrently, 1301666 BC closed a private placing for gross proceeds of C$3,106,226, through issuing 15,531,130 units at C$0.20 each
Naugle told shareholders that Lion is excited to be one of the first companies globally to test and possibly commercially deploy Rio Tinto's Nuton copper heap leach technology
The company said Rio Tinto has the option to earn a 65% interest in the assets, which includes the historic Yerington mine, greenfield MacArthur project, Wassuk property, and the Bear deposit
The company said it issued eight million Lion Copper and Gold common shares and has funded an initial work program of C$200,000 on the properties in consideration for the grant of the option
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The term of the agreement, struck with Houston Minerals, has been extended to 10 years from four previously, while the annual advance royalty payments, namely C$250,000 for Chaco Bear and C$150,000 for Ashton, are to be paid starting on yea
The MacArthur asset sits in Mason Valley, a large, historic copper camp within a land package spanning 51 square miles
"I welcome Mr. Dischler to lead our ESG efforts for the company. We accept our company's role in a circular economy as we look to do our part to positively reshape the natural resource industry,” said Travis Naugle, the company's CEO
As reported in January this year, the explorer announced an updated resource for the property, which showed a 55% increase in the higher confidence measured and indicated (M&I) category .
The property sits around 25 miles from Helena in the cretaceous Blackfoot City Stock (BCS) geology and encompasses 14 historic small mines that produced high grade gold, copper and tungsten
The company said the option deal will give it an approximate 22% equity stake in the resulting listed issuer, assuming completion of financings for proceeds of about C$6 million
The properties consist of 19 mineral claims covering 80 square kilometers within what the company believes to be some of the most prospective areas in the province
The NI 43-101 compliant report prepared by consultants IMC and has pegged the higher confidence measured and indicated resource at over 1 billion pounds (1,000,383,000) of contained copper from 300.29 billion tons of material at a grade of
Pressello is the founder of Active Hedge Capital Inc, a finance advisory firm, and he previously worked at one of the largest Canadian banks where he restructured several C$100 million plus real estate portfolios
