Deals this week: Luna Gold, Fieldex Exploration, Transnational Group

19 March 2015 (Last Updated March 19th, 2015 18:30)

Luna Gold has signed a letter of intent (LoI) with Sandstorm Gold outlining the restructuring of its gold stream and debt facility agreement.

Agreements

Luna Gold has signed a letter of intent (LoI) with Sandstorm Gold outlining the restructuring of its gold stream and debt facility agreement.

At present, Sandstorm holds a 17% gold stream on Luna's Aurizona project in Brazil, and has a debt facility outstanding to Luna with a principal amount of $20m.

The proposed restructuring is subject to a number of conditions and regulatory approvals.

Fieldex Exploration has signed an agreement with prospector Larry Desgagné, under which Fieldex will acquire a 50% undivided ownership interest in 18 mining claims comprising part of the Copper Point Property.

The company will be granted an option to acquire an additional 50% undivided ownership interest in the 18 mining claims and in 41 additional mining claims that make up the remaining property area.

Copper Point Property is located in the Chibougamau region of Québec and covers about 3,319ha.

Transnational Group has exchanged an LoI with the Nevada Outdoor School to secure the rights to mine gypsum on several claims in southern Nevada, that consists of the Mount Vista Gypsum Property.

The company has already taken samples from these claims and, based upon test results, has decided to proceed with the Nevada Outdoor School.

It also commenced the permitting process with the Bureau of Land Management (BLM).

Reliant Gold has staked 56 claim units totalling 896ha in the McVicar Lake area, located about 90km west of Pickle Lake and 130km south-west of the Goldcorp.

The newly acquired, 100%-owned East Bay Property covers a series of historical gold occurrences and prospects along a west-north-west arced trend across the eastern part of McVicar Lake.

The nature of the geological setting of the mineralised bodies results in highly variable shapes, as well as orientations of the zones.

Auryn Resources has signed an agreement to acquire a 51% interest in North Country's Committee Bay Project in Nunavut, Canada.

Under the agreement, the company has the option to spend C$6m over a 30-month period to earn a 51% interest in the mineral concessions comprising the Committee Bay Project.

Auryn will have ultimate discretion over the nature and manner of exploration undertaken during the earn-in period. It will also become the operator of the ensuing joint venture.


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