NEVADA – Toronto-based AGNICO-EAGLE MINES is teaming up with MIRANDA GOLD in a joint venture at Miranda’s Cono and BPV projects in Eureka County. The projects total 116 claims in the Cortez Trend.
Agnico may pay a total of $355,000 to Miranda over the five-year earn-in period. Agnico can earn a 60% interest in the property by spending $1.5 million in exploration expenditures over five years, of which $50,000 will be spent during the first year. After completing the 60% earn-in phase, Agnico can elect to earn an additional 10% interest in the Cono and the BPV projects (for a total 70% interest) by completing a bankable feasibility study and funding a minimum annual work commitment of $200,000. After completion of the feasibility study, Miranda can request that Agnico arrange Miranda’s share of project financing, in which case Agnico will earn an additional 5% interest (for a total 75% interest) in the project.
A geological map of the area is posted at www.MirandaGold.com.