The property, currently held entirely by
Previous exploration suggests that the targeted limestones are folded and cut by high-angle faults, any one of which could have served as a conduit for mineralizing fluids.
To earn a 51% interest, Medallion must spend US$1.5 million on exploration over two years. After earning an initial 30% interest in return for spending US$500,000 in the first six months, the company can elect either to cover the remaining expenditures or form a joint venture. Once Medallion finances its initial earn-in and regulators approve the deal (probably in the next few months), exploration drilling will commence.
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