https://www.engineeringnews.co.za
Exploration|Gold|PROJECT|Maintenance|Drilling
Exploration|Gold|PROJECT|Maintenance|Drilling
exploration|gold|project|maintenance|drilling

American Battery Metals inks LoI to buy Elk gold project

17th January 2020

By: Creamer Media Reporter

     

Font size: - +

Junior American Battery Metals has entered into a nonbinding letter of intent (LoI) to acquire Bayshore Minerals, a private company and its 100%-owned Elk gold mine project, in British Columbia.

The project is host to a National Instrument 43-101-compliant resource estimate comprising 442 600 oz of gold in measured and indicated categories and 88 000 oz of gold in the inferred category.

The project currently has a 'small mines' permit under the care and maintenance provision, has bonding in place for an exploration permit and an effluent discharge permit.

American Battery notes that Bayshore has been focused on reactivating and expanding the scope of the mine permit for a much larger operation.

“The Elk Gold project is known as a high grade gold deposit that has been the subject of significant expenditures including over 125 000 m of drilling property-wide, over 110 00 m of which forms the basis, confirming the project's high-grade resource estimate. Given the extensive exploration and development to date, we see the potential for near-term production coincident with the recent macro events which support an improving gold market,” says president and CEO Jeremy Poirier.

Under the terms of the LOI, American Battery would issue 27-million shares in exchange for all the issued and outstanding shares of Bayshore.

Completion of the transaction is anticipated to occur in the first quarter.

Edited by Creamer Media Reporter

Comments

Projects

Image of Kenya map/flag
High Grand Falls dam, Kenya
Updated 1 hour 41 minutes ago By: Sheila Barradas

Showroom

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.061 0.115s - 162pq - 2rq
Subscribe Now