Acquires Additional Claims Adjacent To Nevada Gold Project
Eclipse Gold Mining Corporation’s (TSXV:EGLD)wholly-owned subsidiary, Hercules Gold USA, LLC, has entered into two binding purchase and sale agreements to acquire claims located adjacent to and within the company’s Hercules Gold Project boundary.
The first Purchase Agreement is with Comstock Exploration and Development LLC and Comstock Gold Inc. to acquire a 100% interest in eight unpatented lode mining claims located adjacent to Eclipse’s Hercules Project in Nevada’s Walker Lane trend.
The Como Comet Claims feature the past producing and successfully reclaimed open pit heap leach Hulley Logan Mine. No detailed production records are currently available for the mine. Inspection by Eclipse geologists has suggested that mineralization continues beyond the previously mined pit on these newly acquired claims and onto adjacent portions of the Hercules Property.
Surface sampling completed by Eclipse Gold Mining has returned values on adjacent claims ranging from below detection to 7.65 g/t gold. Mineralization has been described as low sulphidation epithermal style similar to other showings at Hercules and in the broader region.
A second purchase and sale agreement has been entered into with Nevada Select Royalties, a wholly owned subsidiary of Ely Gold, to acquire a single unpatented mining claim located within the Hercules Property boundary for US$20,000 and by granting the seller a 2% Net Smelter Royalty on the claim which is subject to certain buy down provisions.
Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada’s Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation epithermal gold system. The Company brings together a team with collective funding of over C$2 billion in both strong and weak markets, and a track record of nine successful buyouts/exits totalling C$4.6 billion.