{"id":1115541,"date":"2019-05-10T21:57:09","date_gmt":"2019-05-10T21:57:09","guid":{"rendered":"http:\/\/www.mining.com\/?p=986993"},"modified":"2019-05-10T21:57:09","modified_gmt":"2019-05-10T21:57:09","slug":"kore-inks-4-million-deal-to-develop-california-gold-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1115541","title":{"rendered":"Kore inks $4 million deal to develop California gold project"},"content":{"rendered":"

Vancouver-based Kore Mining (TSXV: KORE) this week received\u00a0<\/span>a $4 million investment<\/a> by Macquari<\/span>e Bank to advance<\/span>\u00a0permitting of the Imperial\u00a0<\/span>gold p<\/span>roject<\/span>\u00a0in California.\u00a0<\/span>\u00a0<\/span><\/p>\n

Kore owns a 100% interest in the\u00a0development project in the mining district of Imperial County. The property is about 17km south east of the operating Mesquite Mine recently acquired by Equinox Gold for $158 million.\u00a0<\/span>\u00a0<\/span><\/p>\n

Macquarie will subscribe for 6\u00a0<\/span>million\u00a0<\/span>common shares of Kore and acquire a 1% NSR royalty\u00a0on the Imperial Project.<\/span>\u00a0Newmont Goldcorp\u00a0also holds a 1% NSR royalty on the Imperial project.<\/span>\u00a0<\/span><\/p>\n

200,000 feet of historical drilling has been completed at Imperial, and the property contains\u00a0879,000 gold ounces in the measured and indicated category and\u00a0<\/span>1.29 million ounces in the inferred category, grading at<\/span>\u00a0<\/span>0.60 g\/t. Imperial is in an advanced stage in the permitting process with the Bureau of Land Management<\/span><\/q><\/span><\/p>\n

\u201cImperial is a project that is very robust economically. Although we don’t have a current feasibility study on it, it is being\u00a0<\/span>really well<\/span>\u00a0studied. It had a feasibility study completed on it previously by Newmont Goldcorp\u00a0<\/span>\u2013<\/span>\u00a0a<\/span>nd<\/span>\u00a0we bought the project from them,”\u00a0<\/span>Adrian Rothwell, Kore president and CEO told MINING.com.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span>“One of the reasons why we were interested in the Imperial project was because it’s in Imperial county, about 10 miles away from the Mesquite operation, which is a mature end-of-mine-life operation now owned by Equinox,\u201d Rothwell said.\u00a0<\/span>\u00a0<\/span>Rothwell said Imperial is in an advanced stage in the permitting process with the Bureau of Land Management (BLM).\u00a0<\/span>\u00a0<\/span><\/p>\n

“There’s a historic environmental impact statement report that’s being prepared on the project that was done by a predecessor of Goldcorp in 2001, and Kore is planning to supplement that.\u00a0<\/span>\u00a0T<\/span>he good news is that not a great deal needs to be done from scratch. We’ll be doing some update on engineering to arrive at a plan of operations, an updated environmental report that can be done over the next 15 months, Rothwell said. We’re at a point where we will resubmit a plan of operations with the BLM in the coming months.\u201d<\/span>\u00a0<\/span><\/p>\n

\u00a0Rothwell said he aims to have Imperial\u00a0in production within the three years, before Mesquite gets to the end of its mine life.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0\u201cI think that’s entirely feasible. With the right money, which we now have, and the right heart from the county and from the BLM, [its] obviously a good time to be doing this federally.\u201d\u00a0<\/span>\u00a0<\/span><\/p>\n

The post Kore inks $4 million deal to develop California gold project<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property is about 17km south east of the operating Mesquite Mine recently acquired by Equinox Gold for $158 million.  <\/p>\n

The post Kore inks $4 million deal to develop California gold project<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2624,404,369,428],"tags":[24,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115541"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1115541"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115541\/revisions"}],"predecessor-version":[{"id":1115542,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115541\/revisions\/1115542"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1115541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1115541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1115541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}