Waseco Resources Renegotiates Battle Mountain Ridge Lease and Advance Royalty, Nevada
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Waseco Resources Inc. has negotiated a reduction of the annual advance royalty payable on the Battle Mountain Ridge gold property in Nevada and settled the current lease payments and the current and coming year’s advance royalty payment for shares. The annual advance royalty will be reduced from US$75,000 annually to US$50,000, starting in year three.
“The Battle Mountain Ridge Property is a very prospective exploration play, both because of its location on the prolific Battle Mountain Trend and the results achieved to date on the property. Our last drill program was successful in intersecting high grade gold, and providing supporting information for our exploration model. A follow-up program has been prepared and hopefully market conditions have improved sufficiently to allow us to finance and complete this program,” said company President, Richard Williams.
“The reduction in the advance royalty payments should facilitate this task,” added Williams.
About Waseco Resources
Waseco Resources Inc. is an exploration company focused on gold exploration in Nevada and uranium exploration in the Labrador Trough, Quebec, through a joint venture with AREVA Canada Inc.
To stop by Waseco’s website, CLICK HERE
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