Solvista Enters Into Definitive Option Agreement with IAMGOLD and Files Updated Technical Report on the Caramanta Project
2014年3月18日 - 4:31AM
Marketwired
Solvista Enters Into Definitive Option Agreement with IAMGOLD and
Files Updated Technical Report on the Caramanta Project
TORONTO, ONTARIO--(Marketwired - Mar 17, 2014) - Solvista Gold
Corporation (TSX-VENTURE:SVV)(OTCQX:SVVZF) ("Solvista" or the
"Company") is pleased to announce that it has entered into a
definitive option agreement (the "Option Agreement") with IAMGOLD
Corporation ("IAMGOLD"), which replaces the letter agreement
entered into between the parties (the "Letter Agreement") as
previously announced on December 18, 2013. The Company previously
provided an update on the status of the Letter Agreement in a press
release dated January 24, 2014.
"We are pleased to have reached definitive terms governing our
relationship with IAMGOLD, and are excited to work with them as
they continue advancing the Project," stated Miller O'Prey,
President and CEO of Solvista.
Under the terms of the Option Agreement, which are substantially
similar to those in the Letter Agreement, IAMGOLD has agreed to
complete a minimum of US$2,500,000 in exploration expenditures and
will have the right to earn up to a 70% interest in the Company's
Caramanta Project (the "Project"), located in Colombia's Mid-Cauca
Belt, by completing the following steps:
- IAMGOLD can earn an initial 51% interest in the Project by
investing a total of US$18,000,000 (including the US$2,500,000 firm
commitment described above) in qualifying expenditures, which may
include US$900,000 of cash payments to Solvista, over a maximum
five-year period commencing on December 16, 2013; and
- IAMGOLD can earn an additional 19% interest in the Project, for
a total 70% interest, by investing a further US$18,000,000 in
qualifying expenditures over a maximum three-year period following
the completion of the initial 51% earn-in.
Subject to the satisfaction of the aforementioned conditions,
and upon completion of IAMGOLD's 51% or 70% earn-in, as IAMGOLD may
elect, Solvista and IAMGOLD would enter into a joint venture to
hold and advance the Project.
The key terms of the Option Agreement were approved by a
majority of Solvista's shareholders, with holders of approximately
60% of Solvista's issued and outstanding common shares providing
their approval in the form of written consents.
Updated Technical Report
The TSX Venture Exchange (the "TSX-V") required that the Company
prepare and file an updated technical report in respect of the
Project (the "Technical Report") in connection with the entering
into of the Option Agreement.
The Technical Report, entitled "Technical Report on the
Caramanta Project, Department of Antioquia, Republic of Colombia"
and with an effective date of February 28, 2014, was authored by
Miller O'Prey, President and CEO of the Company and a 'qualified
person' for purposes of National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101"). Mr. O'Prey is
not 'independent' of the Company based on NI 43-101 but holds no
personal interest in the Project.
A copy of the Technical Report, which was prepared in compliance
with NI 43-101, is available under the Company's SEDAR profile at
www.sedar.com.
About the Caramanta Project
The Caramanta Project is located at the centre of the Middle
Cauca Belt, one of the most prolific gold districts in Colombia,
with production dating back to pre-colonial times. It has also been
the focus of intense exploration over the past five years with a
number of new discoveries including La Colosa (Anglogold Ashanti),
a porphyry-gold deposit with a JORC-compliant Inferred Resource of
24.15 Moz Au at 0.94 g/t Au. Directly south of the Project is Gran
Colombia Gold's Marmato Project with NI 43-101-compliant Measured
and Indicated Resources of 11.8 Moz Au at 0.9 g/t Au and 80 Moz Ag
at 6.1 g/t Ag, and Inferred Resources of 2.6 Moz Au at 1.02 g/t Au
and 9 Moz Ag at 3.7 g/t Ag. To the north is Sunward Resources'
Titiribí deposit where a NI 43-101-compliant Measured and Indicated
Resource of 6.2 Moz AuEq at 0.50 g/t and Inferred Resource of 6.5
Moz AuEq at 0.53 g/t have been announced.
About Solvista
Solvista is a gold exploration company with two projects,
Caramanta and Guadalupe. These projects cover approximately 45,000
hectares in the Antioquia province of Colombia, a region rich in
historic gold mining tradition and where several new gold
discoveries have recently been made. Solvista is well funded and
has completed initial drill programs at both its projects, with the
discovery of significant mineralization at both. Solvista's head
office is located in Toronto, Canada with its Colombian
headquarters located in Medellín. For further details on Solvista,
its management team and its projects, please refer to Solvista's
website (www.solvistagold.com).
Neither the TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy of this news release. No stock
exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
CAUTIONARY STATEMENT: This news release contains forward-looking
information which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information.
Forward-looking information in this news release relates to, among
other matters, IAMGOLD's interest in the Project under the Option
Agreement. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, Solvista's relationship with IAMGOLD, fluctuations
in equity markets and commodity prices, delays in the development
of the Project, risks involved in the mineral exploration and
development industry, and those other risks set out in Solvista's
public documents filed on SEDAR. Solvista believes that the
assumptions and factors used in preparing the forward-looking
information in this news release are reasonable; for example, that
the Option Agreement will not be terminated and IAMGOLD will
exercise its option(s) thereunder. Nevertheless, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all.
Solvista disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
applicable securities laws.
Solvista Gold CorporationMiller O'Prey, P.Geo.Chief Executive
Officer+1 647 694 0149moprey@solvistagold.comSolvista Gold
CorporationDon Christie, CPAChief Financial Officer+1 416 504
4171dchristie@solvistagold.comwww.solvistagold.com
Solvista Gold Corporation (TSXV:SVV)
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Solvista Gold Corporation (TSXV:SVV)
過去 株価チャート
から 6 2023 まで 6 2024