Vior Gold (TSX-V:VIO) has entered into an asset purchase agreement with Agnico Eagle Mines (TSX:AEM) to acquire the Kinebik, Peacock and Launay projects in Québec, Canada.
As part of the deal, Vior will issue around 45.66 million shares, representing 9.9% of the company, as well as pay C$750,000 cash to Agnico Eagle. The transaction is expected to close in Q1 2027, subject to various conditions.
Upon closing, Vior will grant Agnico Eagle a 2% net smelter return royalty on all exclusive exploration rights that are free of any existing royalties. The company will also grant Agnico Eagle a 2% NSR royalty, subject to a 1% buy-back right for C$2 million, exercisable at the company’s discretion.
CEO Mathieu Savard says the deal allows the company to consolidate the Ligneris district and get a footprint on the Cameron Break.
“The Cameron Break is considered to be the extension of the Casa Berardi Break that hosts multiple large gold deposits,” Savard says.
“Kinebik is already permitted for drilling and the corporation will initiate a fully funded 20,000m drill program targeting existing gold mineralisation such as Florence, Cameron Main and Desjardins in the second quarter.”
Kinebik is a district-scale project located in the North Volcanic Zone of the Abitibi greenstone belt that straddles the Cameron shear over 55km that is interpreted as the eastern part of the prolific Case Berardi Break.
Peacock covers the potential southern extension of the Joutel camp stratigraphy and the western extensions of the volcanic package hosting the Sleeping Giant Mine. It displays exploration potential for gold-rich volcanic massive sulphide, as well as gold-bearing quartz veins.
Laynay is located 43km west-northwest of the town of Amos, covering 12,602 hectares. There has been no historical mining or gold production on the property.
Vior Gold is a junior mineral explorer based in Québec, Canada. The company is focused on exploring and developing precious metals projects in mining friendly jurisdictions.
Write to Aaliyah Rogan at Mining.com.au
Images: Vior Gold
