CopAur Minerals has sold its minority interest (49.99%) in the Bolo gold project to majority owner Allegiant Gold as it turns its focus on advancing its Kinsley Mountain oxide-gold project in Nevada.
Under the terms of the agreement, Allegiant will pay a cash consideration and forgive certain debt obligations owed to Allegiant by CopAur for historical advanced royalty and claim maintenance payments.
“Consolidating our ownership gives us maximum flexibility in unlocking the value of this highly prospective gold system located in one of Nevada’s best-known exploration belts,” said Allegiant Gold CEO Peter Gianulis.
Bolo is located 90 kilometers northeast of Tonopah, Nev., in a region known for hosting Carlin-type gold systems. Historic drilling has returned multiple zones of oxide gold mineralization, and the property benefits from road access, permitting, and numerous exploration targets.