Nippon Dragon Resources Inc. announces the sale of Rocmec1 (Russian Kid) gold deposit

Sep 2, 2021

Nippon Dragon Resources Inc. (NIP- TSXV)  announced today in a press release that, subject to shareholder approval among other things, they have agreed to sell the Rocmec1 (Russian Kid) gold deposit in Dasserat township, Quebec to Oreminex Limited. The property has a NI43-101 gold resource as posted on the Nippon Dragon website as follows:

Over $30 million dollars has been spent to date advancing the property including underground access to several levels via a ramp.

Per Nippon, “Orminex is an Australian Stock Exchange listed mining and exploration company with multiple high grade gold projects in Western Australia and a team with a proven record of operating safe, high performing underground mines that deliver consistent shareholder value. Orminex has a strategy of acquiring and operating quality assets in Tier-1 jurisdictions with a view to unlock significant value from high-grade gold projects through demonstrated geological and mining expertise.”

The Rocmec1 (Russian Kid) is one of some 80 Globex royalty properties. As regards this property, Globex retains a 5% Gross Metal Royalty on the first 25,000 ounces of gold produced and an additional 3% Gross Metal Royalty on all subsequent gold production. 

Have a great day!

Jack Stoch


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