Canadian Manufacturing

Aurion signs agreement with Kinross on the Launi East Property

by CM staff   

Manufacturing Aurion Kinross Launi East Property


Under the terms of the agreement, Kinross can earn a 70 per cent undivided interest in the Launi East Property.

ST. JOHN’S NL — Aurion Resources Ltd., has signed a formal definitive option agreement with Kinross Gold Corporation granting Kinross the right to earn up to an undivided 70 per cent interest in the 42.74 km2, Launi East Property, which is located to the southeast and adjacent to the company’s Risti Property.

Under the terms of the agreement, Kinross can earn a 70 per cent undivided interest in the Launi East Property by incurring a minimum of USD$10,000,000 in exploration expenditures on or before the seventh anniversary of the agreement dated August 21, 2023.

Subject to receiving all necessary permits for a drilling program, Kinross has agreed, as a firm obligation, to incur a minimum of USD$2,000,000 in exploration expenditures on, or before the second anniversary of the agreement.

Should Aurion’s interest in the joint venture be diluted down to 10 per cent or less, Aurion’s interest will be converted to a 2 per cent Net Smelter Return (NSR) Royalty on the property. Kinross may purchase one-half of the royalty to reduce the royalty to 1% of net smelter returns for USD$2,000,000.

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“We are pleased to extend our excellent working relationship with Kinross and their first-class exploration team on the Launi East property,” commented Matti Talikka, Aurion’s CEO. “The Company staked the Launi East Property in 2018 and has since completed a significant amount of surface, geophysical, geochemical work on the property, as well as limited drilling. We welcome the Kinross team to build upon the work completed and unlock value from the property.”

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