Toronto-based Euro-Nevada Mining (TSE) has reached an agreement to buy a 4% net smelter return royalty interest in 540 acres of land on Viceroy Resources’ (TSE) Castle Mountain gold property.
Located in San Bernardino Cty., Calif., Euro-Nevada’s newest royalty asset is thought to contain in excess of 1.3 million oz gold.
Operator Viceroy is attempting to get permitting to begin heap leaching operations at a rate of 8,000 tons per day within the next 15 months.
The Castle Mountain asset brings Euro-Nevada’s royalty holding to six properties. The others are located in Nevada. Euro-Nevada says it has $9 million in its treasury to look for additional royalty acquisitions.
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