{"id":965292,"date":"2018-08-29T14:57:36","date_gmt":"2018-08-29T14:57:36","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=965292"},"modified":"2018-08-29T14:57:36","modified_gmt":"2018-08-29T14:57:36","slug":"newmont-to-extend-footprint-in-colombia-with-lyra-gold-project-deal-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=965292","title":{"rendered":"Newmont to extend footprint in Colombia with Lyra gold project deal"},"content":{"rendered":"

By Cecilia Jamasmie<\/a><\/span> <\/p>\n

Shares in Canadian junior Miranda Gold (TSX-V:MAD) surged 17% on Wednesday after world number two gold producer Newmont Mining (NYSE:NEM) signed an option agreement<\/a> to earn an interest in the company’s Lyra gold project in Colombia.<\/p>\n

As part of the deal, Vancouver-based Miranda, will operate a $600,000 prospecting program funded by Newmont over 18 months or less, unless the applications are converted to concession contracts before that period.<\/p>\n

The US miner will eventually have to invest a minimum of $3 million in Miranda Gold’s Lyra project to be granted a 51% stake on it.<\/q><\/p>\n

If that happens, Newmont will decide on whether it wants to get a 51% stake in the project, located in in the Department of Antioquia, 120km northwest of Medell\u00edn.<\/p>\n

Newmont, the only gold company that forms part of the S&P500 index, will have to invest a minimum of $3 million in the project over the course of the subsequent four years to be granted a majority stake.<\/p>\n

Miranda’s shares shot up on the news, trading 17% higher to 35 Canadian cents by 10:25 am ET.<\/p>\n

Last year, the US miner bought about 20% of another Canadian company, Continental Gold Inc (TSX:CNL), to secure access to the Buritic\u00e1 project, located in Antioquia in northwest Colombia<\/a>.<\/p>\n

The Lyra project comprises in 14 concession contract applications totaling 54,895 hectares covering more than 25km of the Tonusco Fault that extends south from the Buritic\u00e1 vein system.<\/p>\n

Data from Colombia’s Institute of Geology and Mining (Ingeominas) shows 50 of 61 of their samples on Lyra are non-detectable to 0.3 g Au\/t, 11 samples are greater than 0.3 g Au\/t, and 6 of those 11 samples greater than 1 g Au\/t.<\/p>\n

Miranda infers that the Tonusco Fault is a feeder to the Buritic\u00e1 vein system and that Lyra may offer an extension to the Buritic\u00e1 district and additional similar vein systems may occur along the Tonusco Fault on Lyra.<\/p>\n

The post Newmont to extend footprint in Colombia with Lyra gold project deal<\/a> appeared first on MINING.com<\/a>.<\/p>\n

…read more<\/a> <\/p>\n

From:: Mining.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Cecilia Jamasmie Shares in Canadian junior Miranda Gold (TSX-V:MAD) surged 17% on Wednesday after world number two gold producer Newmont Mining (NYSE:NEM) signed an option agreement to earn an interest in the company’s Lyra gold project in Colombia. As part of the deal, Vancouver-based Miranda, will operate a $600,000 prospecting program funded by Newmont […]<\/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":[369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/965292"}],"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=965292"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/965292\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=965292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=965292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=965292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}