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GoldMining snares Almaden in Idaho

GoldMining has entered into an agreement to indirectly acquire the Almaden gold project in west-central Idaho, USA, from Sailfish Royalty for US$1.2 million in cash and stock.
GoldMining snares Almaden in Idaho GoldMining snares Almaden in Idaho GoldMining snares Almaden in Idaho GoldMining snares Almaden in Idaho GoldMining snares Almaden in Idaho

Almaden in Idaho, USA

Staff reporter

"This acquisition continues our strategy of consolidating quality resource-stage projects in the Americas. The transaction is a win for both companies as it is accretive to GoldMining, while allowing Sailfish to focus on its royalty business," said CEO Garnet Dawson.

Almaden is a low-sulphidation epithermal gold deposit said to be related to the Northern Nevada Rift, 140km by road north of Boise, on 1,724 hectares of claims and leases. It has an historical 2009 resource estimate based on 886 drill holes for 61,980m of drilling completed by Western Standard Metals.

Shares in GoldMining opened 2% higher Tuesday at C$2.02, valuing the company at $281 million.