Barrick Gold Corporation Agreements Summary
MAITLAND PURCHASE AGREEMENT
Announced October 26, 2020
- $3.5 million cash, issued 750,000 shares and granted a 2.5% NSR in exchange for the 2,112 mineral-acre Maitland project to Barrick.
- Initial Phase 1 drill program of 16-20 holes for 90,000 feet now underway.
THREE-YEAR SURFACE BARRICK OPTION AGREEMENT
Announced September 7, 2021. Click for news release.
- $1.3M paid in cash and issued 1 million shares to acquire 4,261 acres of surface rights with attendant facilities and data.
- Provides for exclusive access to Homestake’s extensive historic data sets which chronicle its 145-year exploration and mining history throughout South Dakota.
Key highlights include:
- Solidifies Dakota Territory as the leading South Dakota exploration company through increasing its property package to 35,292 acres, the largest property package in the Homestake District
- Provides for exclusive access to Homestake’s extensive historic data sets which chronicle its 145-year exploration and mining history throughout South Dakota
- The potential for the Company to repurpose already disturbed land for exploration and development within the Homestake District
- Synergies with Dakota Territory’s existing property package
THREE-YEAR RICHMOND HILL OPTION AGREEMENT
Announced October 14, 2021. Click for news release.
- Issued 400,000 shares to acquire 2,126 acres of surface and mineral rights with facilities.
- The Company may exercise the option by assuming all of the liabilities and issue an additional 400,000 shares and grant a 1% NSR.
- Solidifies Dakota Territory as the leading South Dakota exploration company through increasing its property package to 34,657 mineral acres (38,918 acres total), the largest property package in the Homestake District.
- Three target types recognized on the Richmond Hill Property: 1) Pre-Cambrian Iron Formation (two separate ledges outcrop on the property and contain high grade gold mineralization of Tertiary and/or Pre-Cambrian age), 2) Tertiary mineralization (oxide and sulfide) found in volcanic rocks, breccias, Paleozoic/Pre-Cambrian replacements, and structures defined by previous operator with potential for expansion (only partially explored and open in several directions), and 3) Breccia pipes (collapse breccias are open at depth with a potential high grade component).
- Initial Phase 1 $1 million drill program of 16-20 holes for 90,000 feet that the Company anticipates commencing in the first quarter of 2022 to follow up on the above three targets.
- Contains immediate drilling targets for key target types being pursued by Dakota Territory in the greater Homestake District.
- Increases Barrick’s potential shareholdings to 5.55 million shares of common stock of the Company (“Shares”), representing a potential 7.48% interest in Dakota Territory
Map showing agreements with Barrick Gold Corporation
Dakota Gold Corp.