Ashley Gold Corp., a Canadian mineral exploration company, has made a significant announcement regarding its acquisition of the Sahara uranium-vanadium property in Emery County, Utah. The company has entered into a property option agreement with San Rafael Resources LLC to acquire a 100% interest in the Property, marking a major milestone in their growth and development.
Darcy Christian, CEO of Ashley Gold Corp., expressed enthusiasm about the acquisition, stating that it will provide the company with the opportunity to generate production cash-flow and expand its existing assets. The agreement also solidifies a strategic partnership with Greg Kofford, the Optionor, who brings valuable capital experience and knowledge to the table. Kofford is committed to supporting Ashley’s growth and success, participating in financings alongside new and existing shareholders.
The terms of the agreement outline staged cash and share payments, as well as minimum work expenditures totaling USD $10 million over a three-year period. Ashley will issue common shares, make cash payments, and complete specified work programs to earn various percentages of interest in the Property. Additionally, the company has agreed to grant a Net Smelter Return Royalty to San Rafael upon completion of the acquisition.
The Sahara Property, consisting of over 10,000 acres with historical uranium and vanadium production, presents promising opportunities for Ashley Gold Corp. The region has significant mineralization potential, with identified targets for drilling and exploration. The company’s focus on creating long-term value for shareholders through the discovery and development of world-class gold deposits remains steadfast, with the acquisition of the Sahara Property adding to its growing portfolio of high-quality projects.
Overall, the agreement represents a significant step forward for Ashley Gold Corp. in its pursuit of exploration and development opportunities in the mineral sector. The company’s strategic approach to growth and partnership with San Rafael Resources LLC positions them well for future success in the industry.
