Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Yellowhead Mining Inc. (“Yellowhead”) (TSX VENTURE:YMI) is pleased to report Hole HC11-87 returned 242.52 m of 0.39 Cu, 1.6 g/t Ag and 0.037 g/t Au, including 33.45 m of 0.65% Cu, 2.1 g/t Ag and 0.071 g/t Au and 17.62 m of 0.96% Cu, 4.5 g/t Ag and 0.069 g/t Au.
The results from the other final drill holes of the winter drill program, HC11-85 and HC11-86 are also reported. Hole HC11-85 is in line along strike with Holes HC10-82, HC11-83 and HC11-84 previously reported, as the most northerly drill holes completed at the Harper Creek deposit to date. HC11-86 is the most easterly drill hole on the Harper Creek deposit to date. The new drilling results are presented on two sections.
Section 305620E
Holes HC11-85 and HC11-87 are part of a five-hole fence (including historical hole J-45 as well as Yellowhead’s holes HC10-79 and HC10-80) at the north-eastern limit of the resource on Section 305300E. Hole HC11-85 is collared 200m east of hole HC10-82 and 489 m north of HC10-80. Hole HC11-87 is collared 118 m south of HC10-79.
Click here for the full press release, along with a table of signficant intersections.
Yellowhead has a 100% interest in the Harper Creek Project, (subject to the payment of a 3% NSR royalty capped at $2.5 million, adjusted for inflation) and an additional 2.5% NSR royalty on an estimated 3.3 million tonnes of ore which is expected to be mined beginning in year nine within the NI 43-101 resource. The Harper Creek Project is a large copper-gold-silver project located in south-central British Columbia, approximately 150 kilometers by highway from Kamloops. A Preliminary Economic Assessment Report, which demonstrated the technical and economical viability of Harper Creek, was completed at the end of March and filed on SEDAR on 1 April, 2011 and can be viewed on www.sedar.com.
