Canadian Gold to acquire high-grade gold resource property in Manitoba, potentially doubling exploration opportunities

From Yahoo Finance: 2025-05-19 10:09:00

Canadian Gold has secured an option agreement with Hudbay Minerals to acquire Tartan West property in Flin Flon, Manitoba. The deal includes specific cash, share payments, and work commitments over five years. The property holds high-grade gold resources, with the potential to double exploration opportunities along the Tartan Shear Zone.

The agreement calls for various payments and work commitments, with the final payment totaling C$350,000, 3.7 million shares, and a C$1.7m budget for a drill programme. If Canadian Gold fulfills all obligations, they will gain full ownership of Tartan West, while Hudbay retains a 2.5% net smelter return.

Exploration at Tartan West is set to begin in the 2025 field season, focusing on detailed mapping, prospecting, and sampling to verify historic high-grade surface showings. The area has the potential to significantly increase exploration opportunities and operational synergies for Canadian Gold, enhancing the economic feasibility of restarting the Tartan mine.



Read more at Yahoo Finance: Canadian Gold to acquire Hudbay Minerals’ Tartan West property in Canada