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Riley Gold Corp (TSXV: RLYG) (OTCQB: RLYGF) is an exploration and development company operating in Nevada, USA. The company recently entered an agreement with Kinross Gold U.S.A., Inc., granting Kinross the right to earn up to a 75% interest in Riley Gold's Pipeline West/Clipper Gold Project by spending a minimum of US$20 million. The project is strategically located in the Cortez District, known for significant gold production. With a focus on Carlin-type gold deposits, Riley Gold is well-positioned for substantial exploration and development activities in collaboration with industry giants like Kinross Gold Corporation.
Riley Gold's leadership team has a track record of maximizing shareholder value through various phases of the mining life cycle. The company's commitment to exploration, development, and production, combined with strategic partnerships and proven expertise, positions it as a prominent player in the mining industry.
Riley Gold Corp reports on the first drill hole (PWC 01-24) at its Pipeline West/Clipper Gold Project in Nevada by Kinross Gold. The hole was completed to 3,592.5 feet depth, successfully intercepting 1,248 feet of lower plate carbonates, including Wenban Formation units, starting at 2,345 feet depth. The Wenban Formation hosts all major gold deposits (>5M oz) in the Cortez District. Samples have been submitted to ALS Labs with results pending. The drilling is part of an agreement where Kinross can earn up to 75% interest in PWC by spending US$20 million. Kinross also holds a 9.9% strategic equity interest in Riley Gold.
Riley Gold Corp. (TSXV: RLYG, OTCQB: RLYGF) announced the commencement of drilling at its Pipeline West/Clipper Gold Project (PWC) in Nevada's Cortez District. The drilling is managed and funded by Kinross Gold, which can earn up to a 75% stake in the project by investing at least $20 million. The PWC project, covering approx. 24.7 km², is located in a prolific gold-producing area. Kinross has also acquired a 9.9% equity interest in Riley Gold. The drilling will target previously unexplored areas with promising geological features. Paul Dobak, Riley Gold's technical committee member, brings extensive experience in Nevada's mineralization. Initial permits have been secured from the Bureau of Land Management.
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