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Total Metals ( (TSE:TT) ) has issued an announcement.
Total Metals Corp. has closed the acquisition of the Menary Gold Project in Ontario’s Kenora Mining Division, a 276.5-hectare package of 27 mining claims and one mining lease bordering the Rainy River land package recently tied to Coeur Mining’s multibillion-dollar takeover of New Gold. The property hosts multiple high-grade zones, including bonanza-grade grab samples, strong channel sampling results and a newly identified mineralized zone at depth, reinforcing the district’s status as a premier North American gold jurisdiction.
Under an option agreement, Total Metals can earn a 100% interest in Menary by paying $1,010,000 in cash and issuing an equal value in shares over four years, subject to a 4.5% net smelter royalty held by Western Troy Capital Corp. and William McNerney. The first tranche of consideration, totaling $210,000 in cash and 507,678 shares priced at $0.41365, has been completed on an arm’s length basis, signaling a meaningful expansion of Total Metals’ gold-focused portfolio in a highly active mining camp.
More about Total Metals
Total Metals Corp. is a Canadian exploration company focused on its 100% owned Electrolode Project in northwestern Ontario, targeting critical minerals and gold across three favorable geological trends near major Red Lake-area operations. The company also owns the High Lake and West Hawk Lake gold properties along the Manitoba–Ontario border, with the Purex Zone at High Lake prioritized for initial exploration and potential future mining.
Average Trading Volume: 232,970
Technical Sentiment Signal: Sell
Current Market Cap: C$17.08M
See more data about TT stock on TipRanks’ Stock Analysis page.