A recent agreement with CDN-listed International Larder Minerals sets the stage for BHP Minerals to earn an interest in a northern Ontario property owned by the junior company.
BHP has signed a letter of intent to enter into a joint-venture agreement on the 66-claim gold property situated in Ontario’s Matheson Twp.
The claims lie within a greenstone belt near the Hoyle Pond mine of Kinross Gold.
Under the terms of the agreement, BHP may earn up to a 70% interest in the Matheson property by spending $3 million over a 7-year period, including $100,000 in the first year.
BHP will also make annual option payments totalling $350,000, starting with a $25,000 payment upon execution of the agreement.
Be the first to comment on "BHP Minerals to earn stake in Larder’s Ontario property"