EMX Royalty Options Four Gold Projects In Idaho And Nevada To Hochschild Mining
VANCOUVER - EMX Royalty Corporation reported the execution, by its wholly-owned subsidiary Bronco Creek Exploration Inc., of exploration and option agreements for four precious-metals projects located in Idaho and Nevada to Hochschild Mining PLC. The Agreements provide EMX with work commitments and cash payments during Hochschild's earn-in period, and upon earn-in for a given project, a 4% net smelter return ("NSR") royalty, annual advance royalty payments, and milestone payments. Prior to final execution of the agreements, EMX and Hochschild agreed to, and commenced, initial exploration programs on all four Projects.
The three Idaho Projects, Valve House, Timber Butte, and Lehman Butte are located in southern and south-central Idaho . Valve House and Timber Butte host Carlin-style gold mineralization in prospective carbonate-rich lithologies. Lehman Butte hosts epithermal style veins in Eocene volcanic rocks and jasperoids in older Paleozoic carbonate rocks. The Speed Goat Project hosts an intrusion-related gold-copper target located in the greater Battle Mountain-Eureka gold belt of north-central Nevada.
The Projects were recently acquired by staking prospective open ground during EMX's ongoing regional scale, field-oriented royalty generation gold program. The Agreements with Hochschild serve as an example of the Company's successful execution of the royalty generation aspect of its business model. Part and parcel to EMX's business model, the Projects are now advancing with funding from a quality international mining company with EMX receiving pre-production payments while retaining upside optionality with retained NSR royalty interests.