In a news release, Triumph Gold Corp. (TIG:TSX.V; TIGCF:OTCMKTS) announced it entered into an agreement with Teck Resources for the acquisition of the Big Creek copper-gold property in the Yukon. Triumph it will issue Teck Resources 1.25 million common shares and grant it a 1.5% net smelter returns royalty.
Big Creek encompasses 258 contiguous quartz mining claims in the Yukon's Whitehorse Mining District.It borders Triumph's 100% owned Tad/Toro property, "significantly expanding the company's interest in the Dawson Range Gold District."
"The adjoining properties are located along the prolific Big Creek Fault and the planned extension of the Mt. Freegold Road by the Yukon Resource Gateway Project," the company noted. "The existing 85-kilometre-long Mt. Freegold Road provides access to all portions of the Company's flagship Freegold Mountain Project located approximately 15 kilometers southeast of the newly acquired Property. The Yukon Government recently announced a second Resource Gateway Project agreement with Little Salmon/Carmacks First Nation, involving mining-standard upgrades to the three bridges along the existing Mt. Freegold Road."
The securities that will be issued will be subject to a four-month hold period, the company noted.
"Triumph Gold Corp. is a Canada based, growth-oriented precious metals exploration and development company with a district scale land package in mining friendly Yukon," the company stated.
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