trending Market Intelligence /marketintelligence/en/news-insights/trending/T_ijlBTEx1sz2WnGAAl75w2 content esgSubNav
In This List

Chalice Gold to acquire 70% stake in Khalkos Exploration's Forsan project

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Chalice Gold to acquire 70% stake in Khalkos Exploration's Forsan project

Chalice Gold Mines Ltd. said Dec. 12 that it signed a binding option and farm-in agreement to acquire up to a 70% stake in Khalkos Exploration Inc.'s Forsan gold project adjacent to its East Cadillac gold project in Quebec.

Under the deal, Chalice can earn the stake after completing payments totaling C$375,000 and spending about C$1.8 million in exploration expenditures at Forsan, both over a five-year period. Upon the earn-in's completion, Khalkos will retain a 1% net smelter royalty on the claims provided that all royalties on Forsan do not exceed 3%.

Chalice will maintain a pre-emptive right over the Khalkos royalty and has the right to withdraw from the deal at any time without earning an interest in Forsan.

The deal allows Chalice to consolidate its landholding in the area, adding about 12 square kilometers to its East Cadillac project. The company plans to start a review of Forsan's historical exploration results and merge the date with that of East Cadillac for an integrated approach to exploration targeting over the consolidated land position.