Trifecta Gold (TSX-V:TG) has completed its acquisition of a 100% interest in 11 gold and silver projects in Yukon, Canada’s Tombstone gold belt from Strategic Metals (TSX-V:SMD).
The company issued a final payment of 6,265,000 common shares on 13 October, effective immediately. The shares are subject to a hold period in Canada until 14 February 2027.
The acquisition was completed under a two-stage option agreement announced in March 2024.
Trifecta initially earned a 70% interest by incurring C$6 million ($6.03 million) in exploration expenditure, issuing 305,000 shares to Strategic in July 2024, and granting Strategic a 1% net smelter return (NSR) royalty.
The company elected to acquire the remaining 30% by issuing 6,265,000 shares, representing 9.99% of outstanding shares following the issuance.
Strategic retains an additional 1% NSR royalty, which Trifecta can purchase for 1,500 ounces of gold or cash equivalent.
Following completion, Strategic owns 8,296,579 common shares, or 13.2% of Trifecta’s outstanding shares.
CEO Richard Drechsler says the company completed its earn-in a year ahead of schedule.
“With strong shareholder support, we have completed our earn-in […] and secured 100% ownership of 11 highly prospective projects,” Drechsler adds.
The portfolio covers approximately 30,000 hectares across 11 properties: Mount Hinton, Rye, Lance, Liam, Lois, Leroy, Luke, Leah, Lisa, Husky, and Naws.
The Rye Project sits 14km from the North Canol Road between two mid-Cretaceous granitic intrusions. Trifecta completed a six-hole drill program in September and awaits final assays.
Mount Hinton lies within the Keno Hill district, immediately southeast of Hecla Mining’s (NYSE:HL) Keno Hill silver project. The road-accessible property hosts more than 60 precious metals veins, with visible gold found in many, returning surface samples exceeding 100g/t gold.
The Tombstone gold belt extends over 1,000km from Alaska’s Fairbanks district across Yukon. More than 20 million ounces of gold have been discovered in the Yukon portion since May 2020.
Trifecta Gold is a Canadian precious metals explorer advancing gold and silver projects across Canada and the US.
Write to JC Villarba at Mining.com.au
Images: Trifecta Gold
