Endeavour and Bravada will form an 85/15 joint venture. Credit: Jan Mallander from Pixabay.

Endeavour Silver has signed a definitive agreement with Bravada Gold to earn an 85% stake in the latter’s Baxter gold and silver property in Nevada, US.

Located directly north of Endeavour’s Bruner project in Nevada’s Walker Lane Gold trend, the property comprises 114 unpatented lode claims covering 920 hectares.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

According to the deal, Endeavour has the right to explore and the option to earn an 85% interest in the Baxter property.

In exchange, Endeavour will incur exploration and development expenditures of $4.5m (C$5.9m) on the property for a period of five years from the effective date of the agreement.

Endeavour will make annual cash option payments of $100,000, 50% of which may be paid in Endeavour common shares at its sole discretion, to Bravada and incur the exploration expenditures on the Baxter property in trenches.

See Also:

Upon exercising the option, Endeavour and Bravada will form an 85/15 joint venture.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Bravada Gold president Joe Kizis said: “This potential agreement with a growing, successful mining company like Endeavour Silver is a great, low-risk opportunity for Bravada to piggy-back off of Endeavour’s adjacent Bruner deposit.

“Endeavour benefits from adding potentially high-margin, shallow oxidised gold from the Sinter Target for a modelled heap-leach site on Bruner that is directly south of Baxter’s claim boundary.

“Bravada’s broad portfolio of high-quality gold properties in Nevada continues to receive active interest from potential partners, and the company looks forward to announcing other beneficial deals if and when they mature.”