{"id":1167813,"date":"2020-02-25T15:30:28","date_gmt":"2020-02-25T21:30:28","guid":{"rendered":"https:\/\/www.mining.com\/?p=1015098"},"modified":"2020-02-25T15:30:28","modified_gmt":"2020-02-25T21:30:28","slug":"goldmining-buys-idaho-project-for-1-2-million","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1167813","title":{"rendered":"GoldMining buys Idaho project for $1.2 million"},"content":{"rendered":"<p>GoldMining (TSE: GOLD)&nbsp;has agreed to buy the Almaden (TSE: AMM) gold project in west-central Idaho from Sailfish Royalty for $1.2 million in cash and shares.<\/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>Located 140 km north of Boise, the Almaden project is a historic, resource-stage property with 70,234 metres (934 holes) of drilling. It hosts outcropping, low-sulphidation epithermal gold mineralization similar to Integra Resources\u2019 Delamar and Florida Canyon projects in southwest Idaho and Hecla Mining\u2019s Hollister and Midas mines in Nevada.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> \u201cThis acquisition continues our strategy of consolidating quality resource-stage projects in the Americas\u201d<\/p>\n<p><cite> Garnet Dawson, CEO of GoldMining <\/cite><\/p><\/blockquote>\n<\/figure>\n<p>\u201cThis acquisition continues our strategy of consolidating quality resource-stage projects in the Americas,\u201d said Garnet Dawson, CEO of GoldMining.&nbsp;<\/p>\n<p>\u201cThe transaction is a win for both companies as it is accretive to GoldMining, while allowing Sailfish to focus on its royalty business.&nbsp;Our next step after completing this acquisition will be to complete a current resource estimate on the project.\u201d<\/p>\n<p>The acquisition, consisting of $575,000 in cash and $575,000 in shares (based on the volume-weighted average price of GoldMining shares on the TSX for the five trading days prior to closing), is expected to close in March.<\/p>\n<p>Gold mineralization at the project is associated with intense silicification and argillic alteration that measures roughly 1,900 metres long by 500 metres wide by 150 metres thick.<\/p>\n<p>The deposit was drilled by several companies, including Homestake and Amax Gold, between 1980 and 2012; a historic resource was completed in 2009. Most of the drilling was in vertical holes within 100 metres of surface.<\/p>\n<p>Drilling completed in 2011 and 2012 included highlights of 53.3 metres of 1.08 g\/t gold (starting from surface), including 12.2 metres of 2.23 g\/t gold; and 76.2 metres of 1.2 g\/t gold (starting from surface), including 27 metres of 2.17 g\/t gold.<\/p>\n<p><em>(This article first appeared in the <a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\" aria-label=\"Canadian Mining Journal (opens in a new tab)\">Canadian Mining Journal<\/a>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Located 140 km north of Boise, the Almaden project is resource-stage property with 70,234 metres.<\/p>\n","protected":false},"author":6,"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":[369,4,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1167813"}],"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\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1167813"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1167813\/revisions"}],"predecessor-version":[{"id":1167814,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1167813\/revisions\/1167814"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1167813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1167813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1167813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}