Gold miner Heliostar Metals has entered into a binding agreement with Liberty Gold Corp. to acquire a 100% interest in the Goldstrike project in southwestern Utah. The property area totals 5,173 hectares.
The transaction value is $72.5 million, which will be paid through a mix of staged cash payments and Heliostar shares. Subject to regulatory and exchange approvals, the deal is expected to close within 30 days.
Goldstrike, a past-producing, open-pit heap-leach mine, is located in the Bull Valley Mountains in Washington County, approximately 50 kilometers northwest of St. George, Utah. The property is made up of a central block of patented claims that are surrounded by a contiguous block of unpatented claims and land leased from the Utah School and Institutional Trust Lands Administration.
Source: Heliostar Metals