Target: Gold Location: Yukon and the Northwest Territories, Canada Funding: US$1,840,000 Fund allocation: Evrim 30: Newmont 70
Evrim announced a two-year exploration alliance with a wholly-owned subsidiary of Newmont Mining Corporation on July 2017.
The focus of the alliance is to generate greenfield exploration opportunities in terranes favourable for world-class gold orebodies. Evrim and Newmont will co-fund the exploration program for US$1,840,000 through a respective 30:70 allocation.
At the end of the two-year alliance period, Newmont will have the right to designate one or more projects for option by making certain cash payments to Evrim and solely fund exploration on the project(s) for up to 10 years, or until such time as it has defined a NI43-101 compliant pre-feasibility study on a minimum two-million-ounce gold resource. Newmont will then have increased their ownership to 80%. Evrim will be the operator for the initial US$5million in exploration expenditures.