Blind Creek Resources has closed the acquisition of 100% interest in the Engineer Mine and the Gold Hill properties in British Columbia, Canada.
Blind Creek Resources signed an agreement with Pan Andean Minerals (formerly BCGold) in March to acquire these properties, which are located about 32km south-west of Atlin, British Columbia.
The company has completely paid the purchase price for these properties.
Blind Creek Resources has granted a 1% net smelter return royalty to Pan Andean on the Engineer Mine and Gold Hill properties, as well as the land that borders the west and south sides of the two properties.
Guardsmen Resources has retained a 2.5% net smelter return royalty on the Gold Hill property.
Blind Creek Resources has the rights to purchase back all of Pan Andean’s royalty under the agreement as well as up to 2% of Guardsmen’s royalty.
Consolidation of the mineral claims comprising the Engineer Mine and Gold Hill properties enables Blind Creek Resources to explore and possibly to develop the area’s underlying resources as a whole.
Blind Creek Resources will continue to stay focused on developing its key Blende Project in the Mayo mining district, Yukon.
It also plans to begin a 2017 work programme on the Engineer Mine property, including soil geochemical surveys, trenching, geological mapping, sampling and diamond drilling.
The company has engaged Darren O'Brien to update the Engineer Mine property NI 43-101 technical report.
It recently enlarged the Engineer Mine property by staking 25 additional mineral claims, which totals 8,287ha. This has increased the Engineer Mine property’s size from 3,537ha to 11,668ha.
In total, the Engineer claim group is 18km by 9.5km in size.