GFG Resources signs earn-in deal with Barrick on Pen Gold project in Ontario
Reuters2026/08/25 10:59- GFG Resources signed a definitive earn-in with Barrick for the 100%-owned Pen Gold Project in Ontario’s Timmins district.
- Barrick can earn 60% by paying CAD 1.2 million cash, funding CAD 17.68 million of work, delivering a 1.5 million-ounce NI 43-101 resource within six years.
- Minimum three-year spend set at CAD 4 million, including at least 5,000 meters of diamond drilling before the third anniversary.
- Cash includes CAD 420,000 on signing, followed by CAD 130,000 annually for six years.
- Barrick may lift its stake to 70% by funding a PEA, then to 80% by funding a feasibility study.
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