Newmont Mining announced an agreement to access and explore a highly prospective gold district in Canada’s Yukon Territory through a private placement with Goldstrike Resources. The agreement entitles Newmont to earn up to 80% equity in the Plateau property through exploration investment. The Plateau property is a newly discovered gold system consisting of more than 2,000 claims covering 350km2. Initial drill results are promising and high-grade gold mineralization has been identified over a 50-km strike length.
“The Plateau agreement strengthens our long-term growth pipeline and leverages our world-class exploration capabilities,” said Gary Goldberg, president and CEO, Newmont Mining. “We’ve added more than 125 million ounces (oz) of gold reserves by the drill bit over the last 16 years and about three-quarters of our reserves are located in North America and Australia. We will continue to invest in opportunities that combine the best value with the most favorable technical and geopolitical attributes.”
In 2017, Newmont expects to boost its exploration and advanced projects expenditure by 22%, with about two-thirds of that amount going to fund more brownfields and greenfields exploration.
