Troilus Gold Corp (TSX:TLG, OTCQX:CHXMF) said it has completed the sale of its non-core Mike Lake properties in Yukon, Canada to Prospector Metals Corp. (TSX-V:PPP, OTCQX:ETHOF).
It will have a 19.9% stake in Prospector as a result.
"This transaction streamlines Troilus’ portfolio of properties, allowing it to focus entirely on the development of its flagship Troilus Gold Project in Quebec, while maintaining a stake in the potential success of Mike Lake under Prospector Metal’s experienced leadership," the Montreal-based company said in a statement late on Tuesday.