Deals this week: Crystal Exploration, Orex Minerals, Khalkos

26 November 2015 (Last Updated November 26th, 2015 18:30)

Crystal Exploration has completed the acquisition of diamond projects within the highly prospective northern portion of the Slave Structural province of the Canadian Shield.

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Crystal Exploration has completed the acquisition of diamond projects within the highly prospective northern portion of the Slave Structural province of the Canadian Shield.

The properties comprise the Muskox, Rush and James River diamond bearing kimberlites.

The Muskox kimberlite was previously discovered in 1996 by DeBeers Canada, and has two phases and yields diamond grades in the magmatic phase of 0.53 carats per tonne.

Orex Minerals has awarded an initial 2,000m diamond drilling contract to Kluane Drilling's subsidiary Kluane Mexico for the Sandra Escobar Silver project in northern Durango State, Mexico.

Orex is advancing the Sandra Escobar Project under an option agreement with Canasil Resources.

Sandra Escobar consists of more than 8,100ha of mineral concessions and covers multiple mineralised epithermal quartz veins, as well as breccia structures.

Khalkos has acquired 100% of the mining rights of four Golden Share properties in Quebec, Canada.

The properties include Malartic Lake Shore, Forsan, Lac Chevrier as well as the Blondeau-Guillet.

In return, the company will issue 1.5 million of its common shares to Golden Share.

Goldcorp has completed the previously announced transaction to acquire New Gold's 30% stake in the El Morro copper-gold project in Chile.

"Goldcorp paid $90m to New Gold."

The company, which currently owns 100% of the project, paid $90m to New Gold along with a 4% gold stream payable on future gold production from the El Morro property.

El Morro had proven and probable gold reserves of 8.92 million ounces as at 31 December 2014.

Millrock Resources has signed agreement to acquire the Batamote copper project from Minera Teck, a subsidiary of Teck Resources.

The property is located about 100km northeast of the city of Hermosillo and is situated between the Grupo Mexico-owned La Caridad and the Cananea porphyry copper - molybdenum mines.

Batamote copper project is in close to Millrock's Rio Sonora and Los Cuarentas copper projects and consists of three mining concessions that cover a surface area of 5,796ha.


Image: Several mining deals were signed this week. Photo: courtesy of duron123/FreeDigitalPhotos.net