A large mineral company has signed a letter of intent with regards to acquiring Kettle River Resources Ltd from New Nadina Explorations. The sale includes many historic mines and properties in the Greenwood area.
According to a press release from Golden Dawn Minerals, Kettle River Resources owns a significant package of mineral and land properties in Greenwood.
The sale is worth $1 million, according to the press release, including deposits of $800,000 and $15,000 at two points during the sale process.
Golden Dawn has declined further comment, citing the 90-day due diligence period of the sale before they will comment. According to the release, the sale is expected to close on or around Jan. 31, 2017.
The sale includes the Phoenix mine as well as other properties, said the news release.
“The acquisition covers several significant historic mines, mineral deposits and exploration targets that have demonstrated by historic exploration and production, potential for resources to be defined and added to the resource inventory of Golden Dawn’s Greenwood Precious Metal Project,” it reads.
“Of particular interest are the Tam O’Shanter, Sylvester K, Tremblay Tailings, the Phoenix mine and Bluebell/Oro Denoro Eholt properties.”