CopAur Minerals Completes Acquisition of Kinsley Project in Nevada

Strategic Insights -

CopAur Minerals Inc. has successfully completed its acquisition of the remaining 18.74% ownership interest in the Kinsley Gold LLC from Nevada Sunrise Metals Corporation, gaining full control over the Kinsley Project, a gold exploration project in Elko County, Nevada. The Kinsley Project comprises 513 unpatented lode claims and 6 leased patents, covering a vast area of 10,410 acres. The project hosts a past-producing mine with an extensive exploration database and numerous untested gold targets. The acquisition was completed in consideration of CDN$475,000 and the issuance of 1,000,000 common shares of CopAur, subject to a four-month statutory hold period and a further nine-month voluntary hold period.

Key Takeaways:

  • CopAur Minerals Inc. has acquired full ownership of the Kinsley Gold LLC, gaining control over the Kinsley Project in Elko County, Nevada.
  • The Kinsley Project comprises 513 unpatented lode claims and 6 leased patents, covering 10,410 acres.
  • The project hosts a past-producing mine with an extensive exploration database and numerous untested gold targets.
  • The acquisition involved a consideration of CDN$475,000 and the issuance of 1,000,000 common shares of CopAur.
  • The shares are subject to a four-month statutory hold period and a further nine-month voluntary hold period.
  • The Kinsley Project hosts a National Instrument 43-101 mineral resource that CopAur is working to upgrade and expand.
  • The project has yielded multiple near-surface oxide intercepts and high-grade sulphide gold mineralization.
  • Chief Executive Officer Jeremy Yaseniuk stated that the acquisition provides full control over the project, enabling the company to concentrate on advancing the project.

Statistics:

  • The Kinsley Project comprises 513 unpatented lode claims and 6 leased patents, covering 10,410 acres.
  • The project hosts a past-producing mine that yielded 138,000 ounces of near-surface open-pit gold between 1995 and 1999.
  • The acquisition consideration includes CDN$475,000 and the issuance of 1,000,000 common shares of CopAur.

Sources:

  • Newsfile Corp. - August 12, 2024
  • CopAur Minerals Inc. - News Release July 8, 2024
  • Newsfile Corp. - October 4, 2023
  • Newsfile Corp. - November 10, 2023