DGR Global (ASX: DGR) is a resource project generator and investment company focused on creating exploration and development companies in a wide array of commodities, including copper, gold, nickel, molybdenum, iron ore and uranium.
DGR Global’s strategic focus is on securing provincial tenure positions that are prospective for commodities which attract globally exposed capital funds. Each project or exploration strategy is initially held as a separate subsidiary of the parent company.
D’Aguilar Gold subsidiary Navaho Gold in US gold farmin, on track for ASX listing
D’Aguilar Gold's (ASX: DGR) partially owned subsidiary Navaho Gold has reached agreement to farm-in to four properties owned by privately owned U.S. company Columbus Gold in Nevada, USA, with $1 million in seed capital completed, as a prelude to an IPO and ASX listing.
The first is Stevens Basin, located on the Battle Mountain Gold Trend approximately 16 km west-south-west of Eureka, and 10 km west of Barrick Gold's (NYSE: ABX, TSE: ABX) Archimedes open pit gold mine.
Navaho Gold is focused on the exploration and development of “Carlin” style gold mineralisation.
Navaho Gold can earn an initial 51% interest in Stevens Basin by:
- incurring USD3 million in exploration expenditures over 3 years, of which USD250,000 must be incurred in 2010 (weather permitting);
- paying USD20,000 in cash to Columbus Gold not later than December 24, 2010; and
- paying USD60,000 in common shares of Navaho Gold to Columbus Gold over 3 years.
The Utah Clipper and Crestview properties are located directly adjacent to Barrick's
Pipeline-Gold Acres gold mine complex, in the Cortez-Pipeline sector of the Battle Mountain Gold Trend.
Navaho can earn an initial 51% interest in both Utah Clipper and Crestview by:
- incurring USD3 million in exploration expenditures over 5 years;
- paying USD20,000 in cash to Columbus Gold not later than December 24, 2010; and
- paying USD160,000 in common shares of Navaho to Columbus Gold over 5 years.
White Horse Flats is located 43 km south of Wendover, with the property 13 km east of the Kinsley Mine, which produced approximately 400,000 ounces of gold from a Carlintype deposit mined by Cominco in the mid-1980's.
Whitehorse Flats Agreement, Navaho can earn an initial 51% interest in Whitehorse Flats by:
- incurring USD3 million in exploration expenditures over 5 years;
- paying USD20,000 in cash to Columbus Gold not later than December 24, 2010; and
- paying USD160,000 in common shares of Navaho Gold to Columbus Gold over 5 years.
Subject to net smelter returns royalties, Columbus Gold currently controls a 100% interest in the projects.
