Newcrest expands footprint in Chile through two gold deals

18
0
Compartir en:

Australian gold miner Newcrest Mining (ASX:NMC) is betting big on Chile’s geological gold potential by closing two deals with juniors exploring for the yellow metal in the South American country, the world’s top copper producer.

The Melbourne-based company kicked off the week signing an option agreement with Canada’s Cornerstone Capital (TSX-V:CGP), which could result in the gold miner acquiring up to a 75% interest in the Ontario-based firm’s Miocene properties.

Newcrest is partnering up with Canada’s Cornerstone Capital Resources and Mirasol Mining.

Those gold-silver and porphyry gold-copper deposits are located in Chile’s northern Atacama and Antofagasta regions, in the country’s prolific Maricunga gold belt.

Newcrest has also signed a similar deal with Mirasol Mining (TSX-V:MRZ), owner of the Gorbea projects, which it previously explored in a joint venture with fellow miner Yamana Gold.

The company, already in a JV with Mirasol, will have the right to acquire up to 75% of Gorbea by completing a series of exploration and development milestones.

Newcrest has committed to spend at least $4 million and to complete a minimum of 3,000 m of drilling over an initial 18-month period.

Chile is not the only South American country where Newcrest is looking for new projects. In February it grabbed a 14% stake in Lundin Gold, which expects to bring its Fruta del Norte gold and silver mine in southeastern Ecuador into production by the end of 2019.

The post Newcrest expands footprint in Chile through two gold deals appeared first on MINING.com.