ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

SRC Stakeholder Gold Corp

0.95
0.00 (0.00%)
28 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Stakeholder Gold Corp TSXV:SRC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.95 0.86 0.95 0 21:02:04

Stakeholder Acquires Sourdough Hill Silver Property in Keno Hill Silver Camp, Yukon

24/10/2012 2:30pm

Marketwired Canada


Stakeholder Gold Corp. ("Stakeholder") (TSX VENTURE:SRC) is very pleased to
announce that it has entered into an arm's length agreement with a syndicate of
local prospectors (the "Vendors") whereby it may earn a 100% interest in the
23-claim Sourdough Hill property located in the Keno Hill Silver Camp of central
Yukon approximately 330 km north of Whitehorse.


The Keno Hill Silver Camp is historically one of the world's highest-grade
silver districts with past production from more than 35 deposits. Between 1913
and 1989 the Camp generated more than 217 million ounces of silver from over 5.3
million tons of ore with average grades of 40.52 ounces per ton of silver, 5.62%
lead and 3.14% zinc (Geology Yukon Minfile database) making it the
second-largest historical silver producer in Canada. In 1989, falling metal
prices forced United Keno Hill Mines Ltd. ("UKHM") to discontinue mining. In
February 2006, UKHM's assets were purchased by Alexco Resource Corp. ("Alexco")
and in January 2011 silver production resumed in the Camp with the opening of
Alexco's Bellekeno silver-lead-zinc mine and mill complex. Today, the Camp
continues to boast significant mineral resources at grades far in excess of most
of the world's primary silver producers.


The Sourdough Hill property lies directly south of and adjacent to the operating
Bellekeno mine where Alexco reported silver production of 514,879 ounces during
the second quarter of 2012 as well as 4.5 million pounds lead and 1.2 million
pounds zinc (Alexco Press Release - October 15, 2012). Current silver resources
for Bellekeno are stated at 8,091,000 ounces indicated and 1,143,000 ounces
inferred (www.alexcoresource.com). Its proximity to Bellekeno is not necessarily
indicative of any mineralization on the Sourdough Hill property. However, there
is no record of systematic, modern exploration work and Stakeholder intends to
complete a comprehensive exploration program on the property with the goal of
discovering an economic deposit of silver-lead-zinc. 


Under the terms of the agreement, Stakeholder will have the option to earn a
100% interest in the Sourdough Hill property by paying $300,000 cash, issuing
one million shares and completing $1,000,000 of work scheduled over a four year
period. The agreement is subject to approval by the TSX Venture Exchange upon
which Stakeholder will make an initial payment of $25,000 and issue 200,000
shares to the Vendors. The property will be subject to a 2% net smelter returns
royalty (the "Royalty"). Stakeholder will have the right to purchase one-half of
the Royalty (i.e. 1.0% NSR) for $1,000,000. The Vendors will receive a $15,000
annual advance royalty payment to start when a measured mineral resource equal
to or greater than 2.0 million ounces of silver equivalent using a cut-off grade
of 15 ounces silver per ton is disclosed in a National Instrument 43-101
compliant report.


"This is a major change in direction for Stakeholder from grassroots,
helicopter-borne exploration in the relatively unproven White Gold area to the
well-established Keno Hill Silver camp with its long history of mining and
excellent infrastructure," commented Mark Fekete, President and CEO.


Shares Issued 40,971,641

To view the map of the Sourdough Hill property, please click on the following
link: http://file.marketwire.com/release/Sourdough_Hill.jpg


Follow Stakeholder on:



--  Facebook: https://www.facebook.com/StakeholderGold 
--  Twitter: http://twitter.com/stakeholdergold 
--  Youtube: http://www.youtube.com/StakeholderGold 
--  Flickr: http://www.flickr.com/photos/stakeholdergold/ 



This release may contain forward-looking statements that are subject to known
and unknown risks and uncertainties that could cause actual results to vary
materially from targeted results. Such risks and uncertainties include those
described in the Company's periodic reports including the annual report or in
the filings made by the Company from time to time with securities regulators.
The Company undertakes no obligation to publicly release the result of any
revision of these forward-looking statements to reflect events or circumstances
after the date they are made or to reflect the occurrence of an unanticipated
event.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mark Fekete
Ext. 210, Toll Free 1-877-874-8182
info@stakeholdergold.com
www.stakeholdergold.com

1 Year Stakeholder Gold Chart

1 Year Stakeholder Gold Chart

1 Month Stakeholder Gold Chart

1 Month Stakeholder Gold Chart

Your Recent History

Delayed Upgrade Clock