![]() ![]() ![]() Phase 2 - Hochschild can earn an additional 15% interest in the project by sole funding a feasibility study within a further 3 years. Adamera will be the operator of the project during the initial part of the earn-in period. Year 3,4, 5 required expenditure no less than US$1,000,000. Year 2 –required expenditure minimum of US$500,000 Year 1 -required expenditure -minimum of US$500,000 Phase 1 - Hochschild can earn a 60% interest in the project by incurring US$8,000,000 (~CAN $10,500,000) in exploration expenditures over 5 years. The agreement is in two phases as follows: In January 2020, Adamera was successful in arranging an option-joint venture earn in agreement with Hochschild Mining on the Cooke Mountain project. Drill results have confirmed high-grade gold mineralization on the Overlook/Oversight and Key West projects in 2017-2018. Ground magnetics, detailed soil sampling, geological mapping and IP (Induced Polarization) has defined numerous high priority targets which have been drilled. The Cooke Mountain project includes the Goodfoot, Lamefoot Sounth, Overlook, Oversight, Lambert Creek and the HLK claims. of gold has been processed at the mill since 1990. The Kettle River Gold Mill which is currently on care and maintenance is central to Adamera’s Cooke Mountain project. The land surrounds or encompasses part of 5 past producing mines including Overlook, Lamefoot, Key West, Key East and Belcher. Adamera / Hochschild Mining Option - Joint VentureĪdamera Minerals holds a broad land position in the Cooke Mountain area in Washington State.
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