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Premier Gold Mines to acquire the Getchell Project in Nevada
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Premier Gold Mines to acquire the Getchell Project in Nevada
Premier Gold Mines has entered into a definitive purchase agreement with affiliates of Waterton Global Resource Management to acquire the Getchell Project near Winnemucca, Nevada.
The Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend immediately south of Nevada Gold Mines’ Turquoise Ridge operation. Open pit mining occurred on the property between 1980 and 1999. Subsequent to that, underground test mining (the Pinson Mine) was conducted in the early 2010s. The mine has been in care and maintenance since 2015.
“We are very excited to add the Getchell Project to our already strong base of Nevada assets,” said Ewan Downie, President & CEO of Premier.
“The property has a long track record of successful gold production and we believe that the open pit and underground gold historical resources at Getchell were amongst the highest-grade in North America based on historical work completed on the property and the property will form an integral part of our US-based activities.”
Premier Gold Mines has two producing gold mines, South Arturo and Mercedes, and development opportunities at Hardrock in Ontario (Greenstone Gold JV) and at the McCoy-Cove Project in Nevada.
The company is currently evaluating opportunities to reorganise its portfolio, including a potential spin-out of its Nevada-based assets into a new, stand-alone, USdomiciled, publicly listed gold company.
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