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Antler Gold Inc. (TSXV: ANTL) is a Canadian mineral exploration company focused on creating organic royalties in Africa's top jurisdictions, particularly in Namibia. The company's flagship project, the Paresis Gold Project, located in north central Namibia, aims to find a suitable partner to maximize shareholder benefits through future discoveries. Antler Gold continues to expand its land holdings in Namibia, with recent grants and renewals of exploration licenses. The company's partnership with Fortress Asset Management LLC for the Erongo Central Gold Project demonstrates its commitment to strategic alliances and exploration efforts.
Antler Gold Inc. (TSXV: ANTL) has finalized a definitive agreement with Fortress Asset Management for the Erongo Central Gold Project in Namibia. Under the agreement, Fortress can acquire up to 100% interest in the project for US$5.5 million, with an additional US$6.0 million for exploration expenditures. Antler will retain a 2% net smelter return royalty on the entire project.
The Erongo Central Gold Project comprises four active Exclusive Prospecting Licenses and one application, totaling 19,514.44 hectares in the Damara Belt. It is strategically located near the 3.2 Moz Twin Hills Gold Project and QKR's Navachab Gold Mine. Initial exploration has confirmed high potential for a structurally controlled, metasediment-hosted hydrothermal gold system, with best historical rock chip assays including 80 g/t Au.
Antler Gold Inc. (TSXV: ANTL) has provided an update on the option agreement with Fortress Asset Management for the Erongo Central Gold Project in Namibia. The execution date for the definitive option agreement has been extended from July 24, 2024, to September 16, 2024. This agreement allows Fortress to acquire up to 100% interest in the project for US$5.5 million and US$6.0 million in exploration expenditures. Antler will retain a 2% net smelter return royalty and act as the project operator during the three option periods. The company has already secured shareholder approval for the transaction at its Annual and Special Meeting on July 15, 2024, and is currently finalizing the agreement with Fortress.
Antler Gold has announced an option agreement for the Erongo Gold Project in Namibia, pending TSX-V and shareholder approval. The agreement follows a Letter of Intent with Fortress Asset Management.
Details and historical context can be found in prior news releases from April 22, 2020, to May 23, 2024. The project aims to expand Antler Gold's exploration activities in Namibia.
Antler Gold has announced a binding LOI with Fortress Asset Management for the Erongo Gold Project in Namibia. The agreement allows Fortress to acquire up to 100% interest in Erongo over three years for US$ 5.5 million, US$ 6 million in exploration expenditures, and issuing a 2% net smelter return (NSR) to Antler.
The Erongo Project spans 19,514.44 hectares and includes multiple Exclusive Prospecting Licenses (EPLs). Initial Antler exploration from 2021 identified significant gold potential, including high-grade rock chip assays and promising geophysical survey results. The project is strategically located near major gold projects like Twin Hills and Navachab Gold Mine.
Key terms include systematic cash payments, share issuance, and staged exploration expenditure commitments. Antler will act as the operator during the option period, earning a management fee. A Special Purpose Vehicle will be formed, and a Definitive Agreement will be prepared within 30 days.
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