A joint-venture agreement enables Battle Mountain Gold (NYSE) to earn a 60% interest in the Morning Glory property from Formation Capital (VSE). The property is in east-central Idaho.
To earn the interest, Battle Mountain must spend US$1.5 million on exploration; it can acquire a further 5% by paying US$500,000. The property is about 3 miles east of FMC’s Beartrack project, where several open-pit, heap-leach gold targets were previously identified.
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