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Advance United Holdings ( (TSE:AUEX) ) has issued an update.
Advanced Gold Exploration Inc. has agreed to acquire a 100% interest in the Silver Belle Project in Eureka County, Nevada, comprising about 100 unpatented lode mining claims over 2,000 acres in a prolific carbonate-hosted mineral belt. The project hosts silver, lead, zinc, copper and antimony mineralization characteristic of carbonate replacement deposits, supported by historical high-grade smelter returns and underground workings but has seen no modern exploration beyond shallow oxidized zones.
The company plans modern exploration, including mapping, sampling and geophysics, to test deeper sulphide-rich CRD cores and potential high-grade replacement and feeder structures at depth within a wide-open structural corridor. Under the purchase agreement, Advanced Gold will pay a total of $175,000 in staged cash payments, issue 3,000,000 common shares to the vendors, and grant Stream Metals a 1.5% net smelter returns royalty, with an option to buy out the royalty for US$1.5 million, positioning the Silver Belle asset as a potential growth driver in a tier-one Nevada district.
More about Advance United Holdings
Advanced Gold Exploration Inc. is a mineral exploration company focused on precious and base metals, with its shares listed on the CSE, FSE and OTC markets. The company targets high-potential districts in established mining jurisdictions, seeking underexplored carbonate replacement and related deposit styles to build a pipeline of discovery-stage assets.
Average Trading Volume: 25,001
Technical Sentiment Signal: Buy
Current Market Cap: C$2M
See more data about AUEX stock on TipRanks’ Stock Analysis page.