Deals this week: Millrock Resources, First Mexican Gold, Alamos Gold

15 October 2015 (Last Updated October 15th, 2015 18:30)

Millrock Resources has signed an agreement to acquire the Liberty Bell gold-copper project near the town of Healy, Alaska, US.

Millrock Resources has signed an agreement to acquire the Liberty Bell gold-copper project near the town of Healy, Alaska, US.

The property consists of 188 claims covering 6,150ha and is prospective for replacement-style gold mineralisation, gold-bearing quartz veins, stockworks and shears, and intrusion hosted gold.

The claim area is said to be host to a small mine the Liberty Bell Mine, which was operated by Eva Creek Mining.

First Mexican Gold has carried out an agreement with Link Natural Resources to form a 50/50 joint-venture (JV) to further advance the Guadalupe project.

LNR will purchase a 50% working interest in exchange for a scheduled investment within the first year totaling $8m.

"The project consists of five near-surface deposits, which contain total measured and indicated mineral resources of 40.5 million tonnes."

The partners will create a new JV company called Newco to complete the 50/50 JV.

Alamos Gold has signed an agreement to acquire Carlisle Goldfields by way of a court-approved plan of arrangement.

Carlisle's primary asset is the Lynn Lake gold project in the past producing gold camp in Lynn Lake, Manitoba, Canada.

The project consists of five near-surface deposits, which contain total measured and indicated mineral resources of 40.5 million tonnes grading 2.11g/t for 2.75 million ounces of gold and total inferred mineral resources of 51.8 million tonnes grading 1.37g/t for 2.28 million ounces.

Star Mountain Resources has signed three-way definitive agreements with Northern Zinc and HudBay Minerals.

Under the agreement, Star Mountain will acquire Balmat, including St Lawrence Zinc and its mining operations in the Balmat mining district of St Lawrence County, New York, US.

The total acquisition price paid to Hudbay will be 550,000 shares of Star Mountain common stock, and up to $17m in cash consisting of $1m in cash in addition to future cash payments of up to $15.5m.

Golden Tag Resources has signed an agreement to offload its 50% interest in the Quebec Aquilon property in James Bay Quebec to a private company.

The company carries the Aquilon project on its books at a value of $1,010,318 which represents under 10% of the book value of all of its mineral properties.

Golden will use the sale proceeds to fund the continuing operations of the company.