Nevada Sunrise Gold Corp. said March 5 that it secured options to acquire the Treasure Box and Boyer copper properties in Nevada.
The unpatented claims at Treasure Box and the patented claims at Boyer cover a combined area of about 526 hectares. Both properties host mine workings from limited copper production.
The Boyer property consists of seven patented claims — Azurite, Gardner, Nevada Queen, Colorado King, Mammoth, Lulla B and Snipe — covering about 56.7 hectares. The option also includes three noncontiguous patented claims — Lida G, Copper Glance and Maggie W — covering about 26.2 hectares.
Nevada Sunrise agreed to acquire Boyer for US$2.5 million, payable in stages by 2022. The property is also subject to a 1.0% net smelter returns royalty, half of which can be purchased by Nevada Sunrise for US$750,000.
The company, meanwhile, has the right to purchase Treasure Box under a property agreement announced in November 2017.
The core Treasure Box claims were held continuously for over 20 years by a private company but were relinquished in September 2017.
