Trillium Gold Completes Agreement to acquire 80% of Gold Centre Property in Red Lake
Trillium Gold Mines Inc. (TGLDF) has successfully closed a joint venture agreement with Rupert Resources, granting it an 80% interest in the Gold Centre Property adjacent to Evolution Mining's Campbell-Red Lake Mine. This follows the receipt of a drill permit for the property, with plans for drilling targeting both shallower sulphide-style and deeper high-grade mineralization. The company issued 500,000 common shares to Rupert on closing, subject to a four-month hold period.
- Acquisition of 80% interest in Gold Centre Property enhances potential resource base.
- Drill permit received allows for immediate exploration activities.
- Issuance of 500,000 shares may lead to shareholder dilution.
VANCOUVER, BC, Feb. 24, 2021 /PRNewswire/ - Trillium Gold Mines Inc. (TSXV: TGM) ("Trillium" or the "Company") announced today that the TSX Venture Exchange has approved, and the Company has closed, the definitive joint venture agreement with Rupert Resources Ltd. that entitles Trillium to acquire
The terms of the Joint Venture Agreement are set out in Trillium's News Release dated August 31, 2020. The Company has issued 500,000 common shares to Rupert Resources on closing of the Agreement which shares are subject to a four month hold period expiring June 24, 2021.
On February 9, 2021 Trillium announced receipt of a drill permit for the Gold Centre property. The Company has planned a combination of new holes to target the shallower sulphide-style mineralization, similar to that of the Far East Zone at the Red Lake Operations, as well as deeper drilling holes designed to target both high-grade and sulphide mineralization.
Visit our website at www.trilliumgold.com.
On behalf of the Board of Directors,
Trillium Gold Mines Inc.
"Russell Starr"
Russell Starr
President, CEO and Director
About Trillium Gold Mines Inc.
Trillium Gold Mines Inc. is a growth focused British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. The Company recently extended its holdings in the Confederation Lake and Birch-Uchi greenstone belts, as well as in highly prospective properties in Larder Lake, Ontario and the Matagami and Chibougamou areas of Quebec.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/trillium-gold-completes-agreement-to-acquire-80-of-gold-centre-property-in-red-lake-301234578.html
SOURCE Trillium Gold Mines Inc.
FAQ
What is Trillium Gold Mines' recent acquisition about?
What are the terms of the joint venture with Rupert Resources?
How does the Gold Centre Property relate to other mining operations?
What exploration plans does Trillium Gold have for the Gold Centre Property?
When will the 500,000 common shares issued to Rupert Resources be available for sale?
