{"id":1206100,"date":"2020-09-08T11:44:35","date_gmt":"2020-09-08T16:44:35","guid":{"rendered":"https:\/\/www.mining.com\/?p=1034893"},"modified":"2020-09-08T11:44:35","modified_gmt":"2020-09-08T16:44:35","slug":"newcrest-buys-royalty-on-red-chris-south","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1206100","title":{"rendered":"Newcrest buys royalty on Red Chris South"},"content":{"rendered":"

Newcrest Mining (ASX:NCM) has acquired<\/a> a 1.5% net smelter return royalty on the Red Chris South project located 5 km from its 70% owned Red Chris gold-copper mine in British Columbia.<\/p>\n

As consideration, Newcrest has made a C$225,000 cash payment to previous royalty holder Canada Carbon (TSXV: CCB), which mainly focuses on graphite mining in Quebec. <\/p>\n

The royalty was created when Canada Carbon sold the project claims in 2013 to Red Chris Development Company, a subsidiary of Imperial Metals (TSX: III) which owns the remaining 30% of the Red Chris mine.<\/p>\n

Canada Carbon had planned to sell<\/a> the Red Chris South royalty to Toronto-based precious metals streaming company Vox Royalty (TSXV: VOX), but Newcrest as project operator had\u00a0a right of first refusal, which it elected to use.<\/p>\n

The Red Chris mine is viewed by Newcrest as a potential tier 1 asset that could reach a similar scale as its Cadia operations in Australia. <\/p>\n

Infill drilling is currently underway to fully define the extent of recent high-grade discoveries<\/a>, and the plan is to begin decline activities by end of the calendar year to accelerate exploration and for use in future underground mining.<\/p>\n

Earlier this year<\/a>, Newcrest expanded its landholdings in BC’s Golden Triangle by purchasing Skeena Resources’ GJ property, situated about 30 km west of the Red Chris mine.<\/p>\n","protected":false},"excerpt":{"rendered":"

The project is located immediately south of the Red Chris mine, which is viewed by the company as a potential tier 1 asset.<\/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":[369,2640],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206100"}],"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=1206100"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206100\/revisions"}],"predecessor-version":[{"id":1206122,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206100\/revisions\/1206122"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1206100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1206100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1206100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}