AGCI expands its U.S. footprint by acquiring the Rimrock Copper-Gold Project in Nevada, utilizing a $10 million stock-based deal to fund exploration across a 17-kilometre mineralized corridor.
American Gold & Copper (AGCI) signed a $10M acquisition of Rimrock Copper-Gold Project, adding Nevada exploration assets and committing $1.5M to Phase I exploration, potentially enhancing its asset base.
American Gold & Copper (AGCI) has entered a definitive agreement to acquire the Rimrock Copper-Gold Project in Nevada for $10 million in common stock. The deal adds 1,540 acres to the company's portfolio, with a $1.5 million commitment toward an 18-month Phase I exploration program to validate historical mineral anomalies.
The $10 million acquisition is being funded through the issuance of AGCI common stock and the assumption of certain project liabilities.
The $1.5 million program aims to refine priority drill targets and validate historical geochemical and geophysical anomalies identified in the 17-kilometre alteration corridor.