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Rio Tinto unit to acquire Triumph Gold's Andalusite Peak property

Rio Tinto subsidiary Rio Tinto Exploration Canada Inc. secured an option to acquire the Andalusite Peak copper-gold-silver property in British Columbia that was staked by Triumph Gold Corp. in January 2017.

The Rio Tinto unit will pay Triumph Gold C$3 million over a five-year period and grant the company a 1% net smelter royalty capped at C$50 million.

Triumph Gold said Aug. 26 that the deal will allow it to focus on its flagship Freegold Mountain gold-silver project in Canada's Yukon Territory.