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Lincoln Mining nixes option over Oro Cruz gold project in California

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Lincoln Mining nixes option over Oro Cruz gold project in California

Lincoln Mining Corp. said March 26 that it terminated an option deal with Ausgold Resources Pty. Ltd. over the Oro Cruz gold project in California after it failed to satisfy its obligations.

In May 2017 the company's Lincoln Gold US Corp. unit signed an agreement with Ausgold for the joint development of the project, and granted it an option to acquire up to a 75% interest in Oro Cruz in exchange for payments and exploration expenditure.