Rocky Shore Gold Sells Hemlo Claims to Focus on Newfoundland Project

Hemlo Explorers ( (TSE:RSG) ) has shared an update.

Rocky Shore Gold Ltd. has entered into a definitive agreement to sell its Hemlo-area mineral claims in Ontario to a subsidiary of Barrick Mining Corporation for CAD$975,000. This transaction, which includes a variable-rate royalty and the option for Barrick to buy back part of the royalty, allows Rocky Shore to focus on its Gold Anchor Project in Newfoundland. The proceeds from the sale will be used to advance exploration efforts at the Gold Anchor Project, particularly targeting the Lane Pond Gold Target, which is situated near the prolific Appleton fault known for significant gold resources.

More about Hemlo Explorers

Rocky Shore Gold Ltd. is a Canadian-based mineral exploration company focused on gold discoveries in central Newfoundland through its 100% owned Gold Anchor Project. The project is one of the largest properties within an emerging Central Gold District, strategically located near major gold discoveries and deposits, and includes numerous gold-bearing faults such as the Appleton and JBP Fault Corridors.

YTD Price Performance: -18.18%

Average Trading Volume: 37,956

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$6.44M

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