In a news release, precious and base metals royalty company EMX Royalty Corp. (EMX:TSX.V; EMX:NYSE.American) announced that "it has entered into an agreement to purchase net smelter returns (NSR) royalty interests covering 18 properties in Chile from Revelo Resources Corp. (RVL:TSX.V) for $1,162,000." The company indicated that under the terms of the agreement, Revelo will be required to repay a loan due to EMX in the amount of approximately $369,907.
The company noted that the 18-property royalty portfolio it acquired includes porphyry copper, IOCG (iron oxide copper-gold)/manto, and epithermal gold-silver projects. The firm stated that the properties are located in northern Chile's highly productive Coastal, Paleocene and Domeyko metallogenic belts. The mineralization at the projects includes gold, silver, copper and molybdenum. The NSR royalties for each of the projects range from 0.5% to 2.0% with most of the projects coming in at 1.0%.
The firm indicated that prospective geology and diversity of metals covered by the royalty portfolio will allow it significant discovery and commodity optionality. The company said that of the 18 royalty properties, 9 are controlled by Revelo and 9 are controlled by other third parties.
The company explained that the purchase of the royalty portfolio falls well in line with its royalty acquisition business strategy and complements its royalty generation and strategic investment plans.
EMX Royalty Corp., a precious and base metals royalty company based in Vancouver, B.C., stated that "it has a diversified portfolio of precious, base, palladium-platinum, and battery metals royalty interests and mineral property assets on five continents."
Revelo Resources Corp. is headquartered in Vancouver B.C. The company has interest in a large portfolio of prospective gold and copper projects located along mineral belts in Chile.[NLINSERT]
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