Loading ...MONTRÉAL, QUÉBEC–(Marketwired – March 8, 2018) – Osisko Gold Royalties Ltd (“Osisko”) (TSX:OR)(NYSE:OR) is pleased to announce that it has signed a term sheet (the “Term Sheet”) with Victoria Gold Corp. (“Victoria”) to acquire a 5% net smelter return (“NSR”) royalty (the “Royalty”) for C$98 million (the “Royalty Purchase”) on the Dublin Gulch property (the “Property”) which hosts the Eagle Gold project (“Eagle” or the “Project”) located in Yukon, Canada (“Royalty”).
Eagle is a shovel ready gold project which currently hosts 2.7 million ounces in proven and probable gold reserves from 123 million tonnes of ore with a grade of 0.67 grams of gold per tonne, as outlined in a National Instrument 43-101 feasibility study, and when in production is expected to produce approximately 200,000 ounces of gold annually at an operating cost of approximately US$550 per ounce. The Project is permitted for construction and operations.