EMX Royalty options four gold projects to Hochschild Mining – Kitco NEWS

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Truck3(Kitco News) – EMX Royalty (TSXV: EMX) announced today that it has optioned its four precious-metals projects, located in Idaho and Nevada, to Hochschild Mining.

In a statement, the company said that the agreements with Hochschild provide EMX with work commitments and cash payments during Hochschild’s earn-in period, and upon earn-in for a given project, a 4% NSR royalty, annual advance royalty payments, and milestone payments.

Pursuant to the agreements, Hochschild can earn a 100% interest in each individual project by making option payments totaling $600,000, completing $1,500,000 in exploration expenditures before the fifth anniversary of a given agreement, and reimbursing EMX the previous year’s holding costs.

Upon an option exercise, EMX will retain a 4% NSR royalty on a project. Hochschild will also make annual advance royalty payments of $50,000 that increase to $100,000 upon completion of a Preliminary Economic Assessment.

In addition, Hochschild will make project milestone payments consisting of $500,000 upon completion of a PEA, $1,000,000 upon completion of a Prefeasibility Study, and $1,000,000 upon completion of a Feasibility Study.

The three Idaho projects, Valve House, Timber Butte, and Lehman Butte are located in southern and south-central Idaho. Valve House and Timber Butte host Carlin-style gold mineralization in prospective carbonate-rich lithologies. Lehman Butte hosts epithermal style veins in Eocene volcanic rocks and jasperoids in older Paleozoic carbonate rocks.

The Speed Goat project hosts an intrusion-related gold-copper target located in the greater Battle Mountain-Eureka gold belt of north-central Nevada.

EMX is a precious, base and battery metals royalty company.

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