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E2 Metals nixes Neavesville gold project buy

E2 Metals Ltd. terminated its purchase of the Neavesville gold-silver project in New Zealand due to uncertainty surrounding the status of exploration and mining activities in the area.

The company also canceled a joint venture agreement on the project with Pakirarahi 1B Trust, holder of the surface rights across a majority of the project area.

E2 Metals said Dec. 20 that it applied to surrender the Neavesville project permit to relevant authorities.

In 2014, Eurasian Minerals Inc., now known as EMX Royalty Corp., granted Land & Mineral Ltd. the right to acquire subsidiary Hauraki Gold Ltd., which controls Neavesville. E2 Metals acquired Land & Mineral the same year.