- Val-d'Or Mining (VZZ) has entered into a mining option agreement with Kirkland Lake Discoveries (KLDC) for its Amikougami and Winnie Lake properties.
- Kirkland Lake Discoveries will issue 1.75 million shares to Val-d'Or Mining and invest $1.2 million in exploration over four years.
- Val-d'Or Mining will retain a Net Smelter Returns (NSR) royalty of 0.75% to 2% upon 100% acquisition.
Val-d'Or Mining Corporation (VZZ) has announced a strategic mining option agreement with Kirkland Lake Discoveries Corp. (KLDC), paving the way for Kirkland Lake to acquire a 100% interest in the Amikougami and Winnie Lake properties located in Ontario, Canada. The agreement, set in motion on April 25, 2025, involves Kirkland Lake Discoveries issuing 1.75 million common shares to Val-d'Or Mining, subject to approval by the TSX Venture Exchange.
In addition to this share issuance, Kirkland Lake Discoveries is committed to incurring exploration expenditures totaling $1.2 million over the next four years. Upon successful acquisition of the properties, Val-d'Or Mining will secure a Net Smelter Returns (NSR) royalty ranging from 0.75% to 2%, offering a potential income stream based on future production.
The Amikougami property covers 388 hectares, while the Winnie Lake property spans 795 hectares, both of which are situated near the historically rich Kirkland Lake Gold Camp. Previous exploration has identified significant mineralization potential, with Winnie Lake notably returning drilling results of 22.5 meters with 2.58% copper, 2.83% zinc, 0.5 ounces per ton silver, and 0.03 ounces per ton gold.
This agreement positions Kirkland Lake Discoveries to benefit from the promising geological prospects of these properties, while Val-d'Or Mining maintains potential revenue through its NSR royalty, leveraging the prolific mining history of the Kirkland Lake region, renowned for its substantial gold production.
