London-listed Hochschild Mining will start an initial exploration programme at the Antelope project, in Nevada, US, having secured an option from EMX Royalty to earn 100% of the gold project.
The agreement, announced on June 3, provides EMX with work commitments and cash payments during Hochschild’s earn-in period, and upon earn-in, a 4% net smelter royalty (NSR), yearly advanced royalty payments, and milestone payments.
The Antelope project is located in the Illipah mining district of western White Pine county, Nevada.