Upside Gold, a Canadian resource extraction company, has signed an agreement for 100% interest in seven mineral claims. Located in the northwest part of the company’s Kena Gold-Copper Property, the new acquisitions total about 2.73 km².
The newly acquired area was historically an area of high-grade production as part of the Venus-Juno Group. According to Upside Gold, recorded past production was 5,411 tonnes grading an average of 19.8 g/t gold and 17.7 g/t silver, during the first half of the 20th century.
In securing these claims, Upside Gold now controls a continuous stretch which was previously split between multiple owners. The company hopes the connection of its exploration sites will lead to meaningful discoveries soon. “Finalizing this acquisition is an important step in strengthening the continuity of the Kena Project,” said Sophy Cesar, CEO and director. “The historical high-grade production associated with these claims complements our broader district-scale exploration strategy and adds additional upside potential as we continue advancing the Kena,” Cesar added.
The deal remains subject to Canadian Securities Exchange approval. Once approved, Upside Gold will purchase the claims with a combination of cash, shares and a 0.5% royalty — the last of which the company retains the right to repurchase.
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