EMR:CC - Emergent Metals Corp. Provides An Update On Its East-West Property Royalty, Quebec
(TheNewswire)
Vancouver, British Columbia, January15, 2025 – TheNewswire - Emergent Metals Corp.(TSXV:EMR, OTC:EGMCF, FRA:EML, BSE:EML, MUN:ELM) (“ Emergent ” or the “ Company ”) is pleased to provide an update on its royaltyinterest in the East-West Property, Quebec. The East-West Property(the “ Property ”) is a 184-hectare property that is part of O3 MiningInc.’s ( TSX:OIII )(“ O3Mining ”) Marban Alliance Project (the“ Project ”). The Project is a past producing gold mine beingadvanced towards production by O3 Mining. On December 12, 2024, O3Mining announced they had entered into a definitive agreement pursuantto which Agnico Eagle Mines Limited ( NYSE:AEM, TSX:AEM )(“ Agnico Eagle ”) has agreed to offer to acquire, directly or indirectly,all of the outstanding common shares of O3 Mining by way of atake-over bid (see O3 Mining press release dated Dec. 12, 2024). Oneof the results of this transaction, when completed, will be toconsolidate the Project with Agnico Eagle’s adjacent CanadianMalartic Complex located to the south and west, and the second largestoperating gold mine in Canada. It will also consolidate anadditional land position to the northeast and east of the Project inthe Val d’Or Mining Camp.
Emergent has a 1% Net Smelter Royalty (the“ NSR ”) attached to the Property, which O3 Mining can acquirefor i) C$500,000 within the first three years of signing the purchaseagreement whereby they acquired the East-West Property, ii) C$1.0million within the fourth and fifth year of signing the purchaseagreement, after which the back-in right expires. Note that theProperty is on strike and southeast of the main resource area definedby O3 Mining (the Marban Open Pit and Underground resource), but nomineral resources have yet been defined on the Property subject to theNSR. David Watkinson, President and CEO of Emergent stated, “Weare excited by this transaction and the fact that the Property willnow become part of one of the largest gold mines in Canada, operatedby one of the top mining companies in the world.”
In October 2022, O3 Mining completed a Pre-FeasibilityStudy (available under O3 Mining’s corporate filings at www.sedarplus.ca ) for theMarban Alliance gold deposit. The study outlined a 9.6-year mineoperation projected to produce an average of 161,000 ounces of goldannually (see O3 Mining press release dated September 6, 2022. O3Mining has been engaged in continuing exploration in the permittingprocess for the Project, including completing baseline environmentalstudies.
David Watkinson stated, “The consolidation of land,owned by Agnico Eagle and O3 Mining to the southeast of the MarbanOpen Pit and Underground resource, will allow the potential expansionof the resource area to the southeast and onto the East-West Property,subject to exploration success. Expansion in this direction had beenconstrained by Agnico Eagles property boundary”.
About Emergent
Emergent is a gold and base metal exploration companyfocused on Nevada and Quebec. The Company’s strategy is to lookfor quality acquisitions, add value to these assets throughexploration, and monetize them through sale, joint ventures, option,royalty, and other transactions to create value for our shareholders(acquisition and divestiture (A&D) business model). Examples ofsuccessful transactions to date include the acquisition and sale ofthe Troilus North Property, Quebec to Troilus Gold Corporation( TSX:TG )and the acquisition and sale of the East-West Property to O3 MiningInc. ( TSXV:OIII ).
In Nevada, Emergent’s Golden Arrow Property, a coreasset of the Company, is an advanced stage gold and silver propertywith a well-defined measured and indicated resource (see March 19,2018, press release for details) and a Plan of Operations andEnvironmental Assessment in place to conduct a major drilling program,subject to financing. New York Canyon is a copper skarn and porphyryexploration property subject to an Option Agreement for Purchase andSale with Ivanhoe Electric Inc. ( NYSE:IE ). Ivanhoe Electric can earn a 100%interest in New York Canyon by making US$2.0 million in cash/share payments (US$300,000 received to date) toEmergent by August 1, 2025 (see March 1, 2024, press release fordetails). The West Santa Fe Property (aka Mindora) is a gold,silver, and base metal property subject to a Lease with Option toPurchase Agreement with Lahontan Gold Corporation ( TSXV: LG ). Lahontancan earn a 100% interest in the property by completing US$1.8 millionin cash/share payments and US$1.4 million in exploration expendituresover a seven-year period (see July 21, 2023, press release fordetails). Buckskin Rawhide East is a gold and silver property leasedto Rawhide Mining LLC, operators of the adjacent Rawhide Mine. Should Rawhide Mining bring the property into commercial production,Emergent will receive “bonus payments” of US$15-$20 per ounce ofgold produced, depending on the gold price (see November 14, 2012,press release for details).
In Quebec, the Casa South Property is a goldexploration property located south of and adjacent to Hecla MiningCompany’s ( NYSE:HL ) operating Casa Berardi Mine and northof and adjacent to IAMGOLD Corporation’s ( NYSE:IAG ) GeminiTurgeon Property. The Trecesson Property is a gold explorationproperty located about 50 km north of the Val d’Or mining camp. Emergent has a 1% NSR in the Troilus North Property, part of theTroilus Gold Project being explored by Troilus Gold Corporation. Troilus Gold has completed a NI 43-101 Feasibility Study (seeTroilus Gold’s press release dated June 28, 2024). Emergent alsohas a 1% NSR in the East-West Property, as outlined above.
Note that the location of Emergent’s propertiesadjacent to producing or past producing mines or advanced stageproperties does not guarantee exploration success at Emergent’sproperties or that mineral resources or reserves will be delineated.
Qualified Person
All scientific and technical information disclosed inthis new release was reviewed and approved by David Watkinson, P.Eng.,an employee of Emergent and a non-independent qualified person underNational Instrument 43-101.
For more information on the Company, investors shouldreview the Company’s website at www.emergentmetals.com orview the Company’s filings available at www.sedarplus.ca .
On behalf of the Board ofDirectors
David G. Watkinson, P.Eng.
President & CEO
For further information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Email: info@emergentmetals.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as the term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Cautionary Note onForward-Looking Statements
Certain statements made and information containedherein may constitute “forward looking information” and “forwardlooking statements” within the meaning of applicable Canadian andUnited States securities legislation. These statements and informationare based on facts currently available to the Company and there is noassurance that actual results will meet management’s expectations.Forward-looking statements and information may be identified by suchterms as “anticipates”, “believes”, “targets”,“estimates”, “plans”, “expects”, “may”, “will”,“could” or “would”. Forward-looking statements and informationcontained herein are based on certain factors and assumptionsregarding, among other things, the estimation of mineral resources andreserves, the realization of resource and reserve estimates, metalprices, taxation, the estimation, timing and amount of futureexploration and development, capital and operating costs, theavailability of financing, the receipt of regulatory approvals,environmental risks, title disputes and other matters. While theCompany considers its assumptions to be reasonable as of the datehereof, forward-looking statements and information are not guaranteesof future performance and readers should not place undue importance onsuch statements as actual events and results may differ materiallyfrom those described herein. The Company does not undertake to updateany forward-looking statements or information except as may berequired by applicable securities laws. TheCompany's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers areurged to review these materials, including any technical reports filedwith respect to the Company's mineral properties.
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