Revelo Resources (TSX-V: RVL) finalized the sale to EMX Royalty (TSX-V: EMX) of 18 generative net smelter return royalty interests over exploration properties in Chile for a cash total of $1.16 million.
In a press release, the companies explained that of that amount, $369,907 were applied to fully repay EMX for an outstanding loan due from Revelo.
Revelo said that subsequent to the completion of the transaction, it plans to implement other corporate initiatives to put the company onto a firm basis for future activities.
Among the properties included in the transaction are the 14,000-hectare Arrieros project, which hosts copper, molybdenum and gold; the 10,000-hectare Block 3 project, which hosts molybdenum and gold; the 7,700-hectare Cerro Buenos Aires project, which hosts copper, molybdenum, gold and silver, among others.
Revelo’s total exposure to mineral tenements in northern Chile, either wholly-owned or through royalty interests, is around 200,000 hectares.