Aben Gold has granted Kingfisher Metals a three-year option to acquire a 100% interest in the Forrest Kerr gold project in the Golden Triangle of British Columbia, Canada.
The property package consists of 50 mineral claims covering approximately 20,197 hectares (ha) in a region noted for its gold and base metal exploration activity.
Under the option agreement, Kingfisher can earn a 100% interest in the claims over a three-year period by meeting combined cash and share issuance commitments totalling C$2.7m ($1.93m).
All shares issued under the agreement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws, and no finders’ fees or commissions are payable by Aben in relation to the transaction.
Aben Minerals president and CEO Riley Trimble said: “This transaction delivers Aben $2.7m in cash and shares with no further expenditure on Forrest Kerr, sharpens our focus as a pure Yukon gold explorer and places the project with an excellent team that is actively consolidating the Golden Triangle. We can now put 100% of our effort and capital behind our flagship Justin Gold Project in Yukon.”
Completion of the transactions envisaged in the agreement, including the issuance of shares to Aben, are subject to approval by the TSX Venture Exchange.
During the option period, Kingfisher will act as the operator of the Forrest Kerr project, overseeing exploration activities and any associated work programmes across the 20,197ha claim block in the Golden Triangle.
Kingfisher CEO Dustin Perry said: "The Forrest Kerr project is highly prospective for both high-grade gold-silver mineralisation as well as porphyry copper-gold mineralisation.
"Historical exploration on the project has returned high-grade gold intercepts such as 4m of 90.27g/t Au [grams per tonne gold] and 1.95m of 91.6g/t Au. The project spans one of the major long-lived structures within the Golden Triangle and is yet to see modern high-level geological targeting, which is something our experienced exploration team excels at.
"Efficient consolidation within the Golden Triangle has been our intention since moving into the region in 2023 and this deal further highlights our accretive growth strategy."
