Atlantic Gold Enters Lease Agreement to Advance Its Moose River Consolidated Project, Nova Scotia
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Atlantic Gold Corporation has entered into an agreement with the Province of Nova Scotia in respect of the leasing of certain parcels of land owned by the province, situated within the footprint of the company’s Moose River Consolidated Project (MRC Project) for a period of 10 years. The company now has all surface and sub-surface rights necessary to progress the MRC Project to construction, subject to the finalization of project financing.
The parcels of land under lease cover the mining area within the Touquoy deposit, as well as all facilities and other infrastructure required to process ore from Touquoy, and eventually from Beaver Dam.
The agreement may be renewed for a further 10 year term with written notice at least 3 months prior to the expiry date of the agreement, provided that Atlantic has complied with the terms and conditions of the agreement to the satisfaction of the province, and provided that Atlantic is in compliance with the mineral lease covering its Touquoy deposit. The finalization of the agreement will allow for the commencement of clearing related activities at the Touquoy site.
“Atlantic is pleased to finalize terms for a definitive lease agreement with the Province of Nova Scotia. The province and Atlantic have established a positive working relationship over the past several months and will continue to work together to progress the MRC Project to development and production, resulting in a landmark step with respect to gold mining investment and economic development in the province,” said Steven Dean, chairman and CEO.
To stop by Atlantic Gold’s website, CLICK HERE
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