Vancouver-based Full Metal Minerals (TSXV: FMM) announced today that it has entered into a Share Purchase Agreement with Australia’s Evolution Mining (EVN-ASX) to buy out the Puhipuhi Gold Project, located in the Northland region of the North Island of New Zealand.<\/p>\n
In a press release<\/a>, Full Metal explained that Puhipuhi is an exploration stage epithermal gold project where high grade Au and Ag has been intercepted by drilling at localities over 2 km apart including 2 m at 17g\/t Au and 15 g\/t Ag, 0.6 m at 23.4 g\/t Au and 146 g\/t Ag and 2 m at 12.4 g\/t Au and 85.0 g\/t Ag. A 28 m vein intercept was also detected, but it hasn’t been followed up by subsequent drilling.<\/p>\n The company also said that it considers this deposit analog to Oceana Gold’s Waihi Mine, a low sulphidation epithermal gold-silver deposit that has been in modern production since 1988, is also located on the North Island of New Zealand and whose 2018 guidance is 75-85,000 ounces of gold. <\/p>\n Under the terms of the purchase agreement, the Canadian miner will provide Evolution with an initial cash payment of $50,000 at closing. In addition, the Full Metal has agreed to pay up to $275,000 upon Evolution NZ entering into a new or amended access agreement with certain surface rights owners; $250,000 upon exploration expenditures of $2,000,000 being incurred; $250,000 upon cumulative exploration expenditures of $4,000,000 being incurred; $500,000 upon completion of a NI 43-101 compliant technical report containing an estimate of mineral resources of at least 500,000 oz. gold; $1,750,000 upon completion of a feasibility study; and $2,500,000 upon commencement of commercial production.<\/p>\n The post Canadian miner eyes New Zealand’s gold<\/a> appeared first on MINING.com<\/a>.<\/p>\n \u2026read more<\/a> <\/p>\n Source:: Infomine<\/a><\/p>\n The post Canadian miner eyes New Zealand’s gold<\/a><\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Vancouver-based Full Metal Minerals (TSXV: FMM) announced today that it has entered into a Share Purchase Agreement with Australia’s Evolution Mining (EVN-ASX) to buy out the Puhipuhi Gold Project, located in the Northland region of the North Island of New Zealand. In a press release, Full Metal explained that Puhipuhi is an exploration stage epithermal […]<\/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\/664490"}],"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=664490"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/664490\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=664490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=664490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=664490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}