In return for a US$2.5-million payment, Horne Fault Mines (CDN) has been given the option to acquire a 2.2% net smelter royalty on a gold tailings recovery operation in the southwestern U.S.
A metallurgist’s report on the property indicates that about 160,000 tons of tailings are available for processing. Horne Fault estimates grades to be more than 6 oz. gold per ton.
The report recommends that Horne’s capital be spent on the project to increase production and streamline the process.
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