{"id":1159515,"date":"2020-01-13T08:20:18","date_gmt":"2020-01-13T14:20:18","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011059"},"modified":"2020-01-13T08:20:18","modified_gmt":"2020-01-13T14:20:18","slug":"regency-to-acquire-escape-lake-property-from-benton","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1159515","title":{"rendered":"Regency to acquire Escape Lake property from Benton"},"content":{"rendered":"<p>Benton Resources (TSXV: BEX) and Regency Gold (NEX:RAU.H) announced that they have signed a definitive agreement whereby Regency has acquired an option to acquire a 100% right, title and interest in the Escape Lake property in Ontario, Canada.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>In a press release, the miners said that the deal is subject to a 1.0% net smelter return royalty to be retained by Rio Tinto Exploration Canada from Benton with such option to be conditional on Benton exercising its pre-existing option to acquire the Escape Lake property from RTEC under a pre-existing agreement with RTEC.\u00a0<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Escape Lake and Thunder Bay North lie approximately 60 kilometres south of North American Palladium\u2019s Lac des Illes Mine and 10 kilometres east of NAP\/Transition Metals\u2019 Sunday Lake Intrusion<\/p>\n<\/blockquote>\n<\/figure>\n<p>Benton also assigned to Regency its rights under a letter of intent previously entered into with Panoramic Resources pursuant to which Benton acquired the right to acquire 100% of PAN\u2019s subsidiary Panoramic PGM (Canada) which owns the Thunder Bay North project.<\/p>\n<p>The 220-hectare Escape Lake property is located within the Thunder Bay North project claim block and along the interpreted conduit system which contains\/controls the Pt-Pd-Base Metal mineralization on TBN.<\/p>\n<p>According to the miners, upon closing, Regency will have the right to exercise the option by issuing to Benton an aggregate of 24,615,384 common shares; by fulfilling the remaining terms of the RTEC agreement that Benton has with RTEC on Escape Lake; by entering into and fulfilling the terms of a formal binding purchase and sale agreement with PAN for the acquisition of the PAN Subsidiary including the payment to PAN of a deposit of $250,000 as a down payment to PAN; and by issuing to Benton a 0.5% net smelter return royalty from production on Escape Lake and a 0.5% net smelter return royalty from production on any mineral claims comprising the TBN project that a net smelter royalty has not previously been granted.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal is subject to a 1.0% net smelter return royalty to be retained by Rio Tinto Exploration Canada.<\/p>\n","protected":false},"author":92,"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":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159515"}],"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\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1159515"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159515\/revisions"}],"predecessor-version":[{"id":1159616,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159515\/revisions\/1159616"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1159515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1159515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1159515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}