The companies, which share the same management, have received regulatory approval for the deal and will seek shareholder approval at their annual meetings in May.
The transfer will include interests in 21 projects totalling 1,569 claims. The majority of these claims are near Opapimiskan Lake and Pickle Lake, Ont. The most advanced property is at Kasagiminnis Lake near Pickle Lake, where Moss and Power have drill-indicated geological reserves of 1.1 million tons grading 0.19 oz gold per ton. Another property near Dryden, Ont., hosts 100,000 tons grading 0.2 oz.
Power also holds interests in 18 other properties including a 50% stake in the Karl-Zeemel property which hosts 280,000 tons grading 0.15 oz. Moss in turn, holds separate interests in another eight properties totalling 492 claims, including a 2.5% royalty in the formerly producing Central Patricia gold mine project owned by Noramco Mining Corp.
Power plans to seek joint venture partners to fund exploration and development of the projects.
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