Metallic Minerals Corp. has signed a production royalty agreement with celebrity miner, Dakota Fred Hurt, that will allow Metallic Minerals Corp. to conduct exploration, development and mining operations on Hurt’s gold claims in the Yukon.
The exciting development is expected to boost Metallic Minerals’ presence in the Yukon gold rush. Metallic Minerals will now have exclusive access to extend the search for previously unstudied gold mineralization on the extensive claims.
A royalty agreement is a legal agreement between a mining company and a landowner that allows a mining company to extract minerals from the land in exchange for payment to the property owner. This specific royalty agreement provides Metallic Minerals access to land that may contain significant concentrations of gold and other mineral resources.
Under the terms of the agreement, Metallic Minerals will pay Hurt a royalty for all gold it finds in the mineral claims. The royalty will be up to 4 percent of the gross value of the gold extracted from the surface based on the spot price of gold at the time it is sold.
Metallic Minerals CEO, Scott Gibson said, “We couldn’t be more honored or thrilled to be working alongside Mr. Hurt and forging an alliance of success. Our teams have worked hard on establishing the agreement terms and we look forward to maximizing the potential of this remarkable asset.”For Hurt, this deal is a testament to his skill and expertise in prospecting and staking claims.
“I’ve been mining in the Yukon for years and when I stumbled upon these claims, I knew I had a winner. Now that I’ve partnered with the experienced team at Metallic Minerals, I feel confident that we have an unbeatable combination to achieve success,” said Hurt. In addition to the royalty on gold, Hurt will also receive a 2 percent royalty on silver, copper, and any other base metal extracted from the claims.
Hurt is no stranger to gold prospecting. He became a household name as the star of the Discovery Channel’s hit reality television show, Gold Rush. During his career, Hurt has helped locate millions of dollars worth of gold in several countries.
The new Metallics Minerals-Hurt agreement comes at an opportune time. Gold prices recently rose to their highest level ever, with prices continuing to climb steadily and exceeding their previous peak of $2,000 per ounce. Gold’s surge is largely due to an increase in demand for safer investments caused by the current economic climate.
Metallic Minerals is excited to get to work. Under the agreement, Metallic Minerals has the right to conduct exploration, development, and mining operations on the mineral claims. The company intends to develop data and studies to assess the economic feasibility of these claims. Their goal is to develop a plan that will successfully identify and extract valuable minerals from the property.
Hurt is also looking forward to the possibilities this agreement will bring. “I’m very confident in the potential of these mineral claims, and I’m looking forward to watching the Metallic Minerals team do their thing. I know that this partnership has the makings of something extraordinary,” said Hurt.
