TSX-V-listed North Peak Resources has announced the acquisition of the Prospect Mountain mine complex, in the Eureka district of Nevada, for shares.
The company will pay Solarljos and Gullsil of Nevada up to eight-million shares in two phases, with an initial tranche of five-million common shares that acquires an 80% interest in the property, and at the company’s discretion, an additional three-million common shares to acquire the remaining 20% interest.
"The Prospect Mountain mine complex, with its extensive shaft and mine infrastructure sits squarely on the important geological structures driving today's Eureka district exploration activity and will benefit from the various drilling and geophysics programmes this historic property will receive for the first time," said president and CEO Brian Hinchcliffe.
"Significantly, our team will be promptly coordinating the launch of these programmes and we are looking forward to working with the Erickson's as we advance the property."
"We regard the gold, silver and base metal potential at Prospect Mountain as immense", added Solarljos and Gullsil Ty Erickson.
"We are excited to work with the North Peak team to realise this potential."