TSX:FNV 82.53 -0.90 -1.08%
Volume 967,041
September 21, 2018
NYSE:FNV 63.95 -0.66 -1.02%
Volume 1,891,366
September 21, 2018
Gold 1,200.30 -8.03 -0.66%
September 21, 2018
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The Castle Mountain mining property is located in California, close to the Nevada border and is in the historic Hart Mining District, 120 km south of Las Vegas, Nevada. The project is being advanced by Equinox Gold Corp. (“Equinox Gold”) which was formed in 2017 following the combination of NewCastle Gold Ltd. (“NewCastle”), Trek Mining and Anfield Gold. NewCastle was the previous owner. In April 2016, Franco-Nevada agreed with NewCastle to restructure the existing royalties, previously NSRs ranging from 1% to 5%, into a single 2.65% NSR royalty covering a larger property. The Castle Mountain land holdings total greater than 40 km2 of patented and unpatented claims. The mine was previously operated by Viceroy Gold and MK Resources and produced over 1.2 million ounces of gold over a 10 year mine life with residual mining through 2004. Significant progress was made on the property in 2017 including successful water drilling in the permit area as well as an increase to the M&I Mineral Resource. Equinox Gold is actively drilling and in early 2018 announced new mineralization to the east of the original pits. Equinox Gold is targeting the release of a prefeasibility study in the first half of 2018.