Taiga Gold (TGC.C) and SKRR Exploration (SKRR.V) are ready to hit the ground running at Leland as both partners have agreed on a 2020 work program for the exploration project, located within trucking distance from SSR Mining’s (SSRM, SSRM.TO) Seabee gold mine. The summer program will focus on additional sampling programs (both infill soil sampling as well as channel sampling of trenches) to follow up on Taiga’s earlier gold discoveries in channel samples (with 3.2 meters of 2.1 g/t gold and 0.65 meters of 5.4 g/t as main occurrence).
Leland is still very much an early stage exploration project and Taiga’s new partner has committed to spend C$3M on work commitments over a three year period to earn an initial 75% interest in the project. As a reminder, you can find the earn-in schedule here below.
As you can see, the initial 51% interest can only be earned upon completing C$1.5M in exploration expenditures of which C$100,000 should be completed before the end of this year. That shouldn’t be an issue given the extent of the current summer program, and SKRR Exploration will very likely end up spending a multiple of the required spending for 2020 which already puts it nicely on schedule to complete the C$0.6M in work commitments by the end of 2021.
Disclosure: The author currently has no position in Taiga Gold. Taiga is a sponsor of the website.