{"id":469483,"date":"2017-04-11T17:37:33","date_gmt":"2017-04-11T17:37:33","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=469483"},"modified":"2017-04-11T17:37:33","modified_gmt":"2017-04-11T17:37:33","slug":"barrick-gold-becomes-third-major-to-head-to-the-yukon-in-the-past-12-months-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=469483","title":{"rendered":"Barrick Gold becomes third major to head to the Yukon in the past 12 months"},"content":{"rendered":"

By analyst<\/a><\/span> <\/p>\n

\"\"<\/a><\/div>\n

By Michael Allan McCrae<\/a><\/span> <\/p>\n

<\/div>\n

Yukon gold junior ATAC Resources will receive an $8.3 million investment from Barrick Gold as well as other investments.<\/p>\n

Announced yesterday, Barrick is investing in ATAC’s Rackla Gold Property. ATAC says totals investments by Barrick could add up $63.3 million, which includes a private placement of $8.3 million and a two staged, $55 million exploration earn-in option to acquire up to 70% of Rackla.<\/p>\n

The Yukon has been on a roll with the $520 million Goldcorp and Kaminak deal last spring and the US$39.5 million Newmont and Goldstrike deal last month.<\/p>\n

ATAC’s Rackla Gold Property. Image from ATAC Resources<\/p>\n

ATAC’s President and CEO Graham Downs touted the deal.<\/p>\n

\u201cThis agreement represents the alignment of both Barrick and ATAC’s shared values: principally to conduct excellence in exploration in an environmentally sustainable manner and to impart positive contributions to the communities we work within,\u201d he said in a news release.<\/p>\n

Ranj Pillai, Yukon’s minister of Energy, Mines and Resources, told CBC that his territory now has all the major players working in the Yukon.<\/p>\n

\u201cIt should be a very exciting exploration season,\u201d says Pillai<\/p>\n

ATAC’s Rackla Gold Property. Image from MINING.com media tour organized by Yukon government.<\/p>\n

Here is ATAC’s news release.<\/p>\n

ATAC Resources announces property earn-in agreement with Barrick Gold
\nApril 10, 2017 \u2013 Vancouver, BC \u2013 ATAC Resources Ltd. (TSX-V:ATC) (\u201cATAC\u201d) is pleased to announce that it has entered into a number of transactions with Barrick Gold Corporation (NYSE:ABX) (TSX:ABX) (\u201cBarrick\u201d) pursuant to which Barrick can acquire an interest in the central portion of ATAC’s Rackla Gold Property (the \u201cOrion Project\u201d) and make an $8.3 million investment in ATAC. Under the terms of the property earn-in agreement (the \u201cEarn-in Agreement\u201d) Barrick can acquire up to a 70% interest in the Orion Project.<\/p>\n

The transactions consist of a potential total investment by Barrick of approximately $63.3 million, which includes a private placement of $8.3 million and a two staged, $55 million exploration earn-in option to acquire up to 70% of the Orion Project.<\/p>\n

Highlights of the transactions are:<\/p>\n

Stage one of the earn-in requires Barrick to incur exploration expenditures of $35 million over five years to acquire a 60% interest in the Orion Project;
\nStage one expenditures include a $10 million guaranteed exploration commitment over the first three years;
\nStage two of the earn-in requires Barrick to incur exploration expenditures of an additional $20 million to acquire an additional 10% interest in the Orion Project (for an aggregate 70%);
\nOne or more senior members of the Barrick exploration team will be seconded to the Orion Project and provide technical assistance and expertise to ATAC;
\nA flow-through private placement under which ATAC will receive total proceeds of $8.3 million. Barrick will increase its shareholding in ATAC from approximately 9.2% to 19.9% and will have the right to maintain this interest in ATAC; and,
\nThe flow-through placement proceeds will be used by ATAC to partially fund the previously announced $10 million, 2017 exploration program at the Osiris and Rau Projects which are not subject to the Barrick Earn-in Agreement.<\/p>\n

\u201cWe view the Earn-in Agreement and related \u2026read more<\/a> <\/p>\n

Source:: Infomine<\/a><\/p>\n

The post <\/a>Barrick Gold becomes third major to head to the Yukon in the past 12 months<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By analyst By Michael Allan McCrae Yukon gold junior ATAC Resources will receive an $8.3 million investment from Barrick Gold as well as other investments. Announced yesterday, Barrick is investing in ATAC’s Rackla Gold Property. ATAC says totals investments by Barrick could add up $63.3 million, which includes a private placement of $8.3 million and […]<\/p>\n","protected":false},"author":1,"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":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/469483"}],"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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=469483"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/469483\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=469483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=469483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=469483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}