Earth Life Sciences to acquire White Channel and Gold Buck projects in Canada

18 February 2016 (Last Updated February 18th, 2016 18:30)

Canada-based Earth Life Sciences has signed an agreement to acquire assets from White Channel and Gold Buck projects.

Canada-based Earth Life Sciences has signed an agreement to acquire assets from White Channel and Gold Buck projects.

As part of the agreement, the company is set to acquire the assets of White Channel project in British Columbia, Canada. The project comprises silica-gold.

Earth Life Sciences will also purchase all the assets of Gold Buck project 35 miles east of Williams Lake, British Columbia, and consists of copper-gold.

"The agreement grants the company full control and ownership of the two mining assets."

The agreement grants the company full control and ownership of the two mining assets.

The company began development of the White Channel (silica-gold) project in June 2014 and plans large-scale production in summer 2016.

Earth Life Sciences CEO said: "These acquisitions strengthen our portfolio with two quality projects in highly desirable jurisdictions, which have already showed us tremendous promise and value."

The Gold Buck project, which has been already tested, shows good mineralisation of gold, silver and copper covering a vast area.

It lies in an area of well-developed infrastructure in the prolific Quesnel Trough.

The transaction is subject to a net smelter return agreement, the company said.