Premier Gold Mines LTD. announced Nov. 14 that it has entered into an option agreement with Ely Gold Royalties Inc. to acquire the Rodeo Creek property in the Carlin Trend.
Rodeo Creek is a 510-acre land package consisting of 31 unpatented claims strategically located adjoining Premier’s 40 percent owned South Arturo property, and approximately 6 miles northwest from Barrick Gold Corp.’s Goldstrike Operations. The project also abuts Halliburton’s Rossi Barite mine at its north boundary.
Premier will have the option to acquire a 100 percent interest in the project by making payments to Ely Gold in the amount of $500,000 over a five-year period, and Ely Gold will retain a 2 percent net smelter royalty.
Premier is currently participating in the construction of two new mining operations at its South Arturo joint venture that are located within 2 miles of Rodeo Creek.