Onyx acquires additional property in Timmins camp
Onyx Gold Corp. has entered into an agreement to acquire a property consisting of one mining lease and four unpatented mining claims from an arm's length party located in the Matheson area, east of Timmins. The Property is contiguous with the Company's Munro-Croesus Property ("Munro-Croesus" or the "Project") which will total 10,588 ha (105.8 km2) following the acquisition. Under the terms of the agreement, the Company will pay a cash consideration $20,000, and will issue 120,000 of its common shares to the vendor subject to regulatory approval. The property is subject to a pre-existing 2% NSR payable to another arms-length party.
Results of Annual General Meeting
The Company announces that its annual general meeting of shareholders was held yesterday and all of the directors were re-elected for another term until the next annual meeting.
About Onyx GoldĀ
Onyx Gold is an exploration company focused on well-established Canadian mining jurisdictions, with assets in Timmins, Ontario, and Yukon Territory. The Company's extensive portfolio of quality gold projects in the greater Timmins gold camp includes the Munro-Croesus Gold property, renowned for its high-grade mineralization, plus two additional earlier-stage large exploration properties, Golden Mile and Timmins South. Onyx Gold also controls four properties in the Selwyn Basin area of Yukon Territory, which is currently gaining significance due to recent discoveries in the area. Onyx Gold's experienced board and senior management team are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
Tags: Northern Ontario / Deals & Financial / Gold / All Articles