North Peak signs LoI to acquire Prospect Mountain Mine Complex in Silver-Gold-Lead District
by CM staff
The acquisition involves the issuance of eight million common shares of the company in two phases - an initial tranche of five million shares to acquire an 80 per cent interest in the property, and at the company's discretion, an additional three million shares to acquire the remaining 20 per cent interest.
CALGARY — North Peak Resources Ltd., announces execution of a non-binding letter of intent (LOI) dated March 8, 2023 with Solarljos LLC and Gullsil LLC of Nevada (Erickson Entities) for the acquisition of the Prospect Mountain Mine complex in the Eureka district of Nevada.
The acquisition involves the issuance of eight million common shares of the company in two phases – an initial tranche of five million shares to acquire an 80 per cent interest in the property, and at the company’s discretion, an additional three million shares to acquire the remaining 20 per cent interest.
“The dual gold and base metal geologic systems and historic mining at the Prospect Mountain Mine complex offers the possibility of finding the high-grade mineralization and reserves that would be required for profitable surface or underground mining given today’s capex and opex costs,” said Brian Hinchcliffe, North Peak’s CEO. “As the long-time owners of Prospect Mountain through the Erickson Entities, Ty Erickson and Ari Erickson were seeking a group experienced in re-vitalizing former mining complexes with modern exploration and we look forward to executing precisely those programs in the exciting Eureka district.”
