Exploration Mirandor (MIG-M) has finalized its agreement with Kinross Gold (K-T) for the joint exploration, development and operation of Mirandor’s Railroad gold project in Nevada’s Carlin trend.
The Railroad project consists of some 600 patented and unpatented claims, plus about 15 sq. miles of fee (private) land situated adjacent to, and south of, Newmont Gold’s Rain gold mine.
The agreement calls for Kinross to spend US$7 million over four years in order to earn a 50% interest. During the earn-in period, Kinross will be responsible for all property and assessment payments.
Kinross may earn an additional 10% interest by spending a further US$5 million on a positive feasibility study. Upon completing the study, Kinross and Mirandor would jointly seek project financing.
Kinross expects to begin field work at Railroad in early March.
Be the first to comment on "EXPLORATION 1998 — Mirandor and Kinross seal Railroad deal"