Toronto-based White Gold announces that it has entered into a binding purchase agreement with Kinross Gold Corporation pursuant to which the Company has agreed to acquire the entities holding 100% of Kinross' properties in the White Gold District, Yukon. The acquisition consolidates and expands the company's land position in the White Gold District, and adds approximately approximately 86,000 hectares of land adjacent to the company's properties. The land is a historic high-grade gold resource.
Shawn Ryan, Chief Technical Advisor of White Gold, commented, "We are very excited to be acquiring Kinross' Yukon portfolio; including the White Gold property. The acquisition adds significant exploration potential to our already dominant land position in the White Gold District. Our ultimate goal in the Yukon is to leverage our team's track record of successful exploration and discovering mineral resources in order to discover additional gold deposits and this acquisition greatly enhances our prospects.”
The White Gold property is located approximately 95km south of Dawson City, Yukon and consists of 1,835 claims covering approximately 36,265 hectares. The property was historically explored by Underworld Resources from 2007 - 2009 and included the discovery of the Golden Saddle and Arc zones.