First Mild and New Oroperu Assets agreed in June to mix and kind Anacortes Mining
(LON:MTR, ASX:MTR) has invested in Anacortes Mining Corp, a brand new progress oriented gold firm within the Americas.
The pure sources investor stated it purchased a stake in First Mild Capital Corp for about C$500,000 (£288,000) as a part of a capital increase by First Mild of C$22.0mln.
First Mild and agreed in June to mix and kind Anacortes Mining.
Anacortes will initially be targeted on the continued exploration and development of the Tres Cruces gold challenge in Peru. Tres Cruces is among the highest-grade oxide deposits globally and hosts oxide plus sulphide indicated sources of two.474 million ounces at 1.65 grammes a tonne (g/t) gold and inferred sources of 104,000 ounces at 1.26 g/t gold, together with 630,000 ounces of high-grade leachable gold at 1.28 g/t gold.
Following the completion of First Mild’s fundraise and the merger, Metallic Tiger will maintain a stake of about 0.5% in Anacortes and in addition obtain 625,000 warrants exercisable inside two years at a value of C$0.55.