FAQ: Fairchild Gold Corp.'s Acquisition of Golden Arrow Project in Nevada
Summary
Fairchild Gold Corp. (TSX-V: FAIR) has signed a Memorandum of Understanding to acquire a 100% interest in the Golden Arrow Project, an advanced-stage gold property in Nevada's Walker Lane Shear Zone, for US$5 million. This acquisition will expand Fairchild's total land position by 170% to 64.5 km² and includes the appointment of veteran mining engineer Guy Lauzier as Technical Director to advance project development.
What is the main announcement in this content?
Fairchild Gold Corp. (TSX-V: FAIR) has signed a Memorandum of Understanding to acquire a 100% interest in the Golden Arrow Project, an advanced-stage gold property located along Nevada’s Walker Lane Shear Zone for US$5 million.
Where is the Golden Arrow Project located?
The Golden Arrow Project is located along Nevada’s Walker Lane Shear Zone and represents a significant expansion of Fairchild’s land position in Nevada.
What are the key terms of the acquisition deal?
Fairchild will issue 12.5 million shares, a US$3.5 million secured note, and a 0.5% NSR royalty to Emergent Metals Corp. upon completion of the deal, with the total transaction valued at US$5 million.
What is the significance of the Golden Arrow Project’s historic resource?
The Golden Arrow Project hosts a historic resource of 420,000 ounces of gold at an average grade of 0.75 g/t and has undergone extensive exploration totaling more than 61,000 meters of drilling.
How does this acquisition impact Fairchild Gold’s overall land position?
The acquisition will expand Fairchild’s total land position by 170% to 64.5 km² through the addition of both the Golden Arrow Project and the Nevada Titan Project.
Who is Guy Lauzier and what role will he play?
Guy Lauzier is a veteran mining engineer formerly with Barrick, Newmont, and Agnico Eagle who will be appointed as Technical Director to advance development of the Golden Arrow Project.
What is the value per ounce of gold in this transaction?
The US$5 million transaction is valued at roughly US$12 per ounce of gold in the ground based on the historic resource of 420,000 ounces.
Where can I find more information about Fairchild Gold Corp.?
For more information on the Company, visit https://www.fairchildgold.com/
What other properties does Fairchild Gold currently own?
Fairchild Gold’s flagship property is the Nevada Titan Project in the historic Goodsprings mining district, and the Company also owns 100% of the Fairchild Lake Property in Ontario covering 2,224 hectares.
Where can I view the full article about this acquisition?
To view the full article, visit https://ibn.fm/2cZYB
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