Mining, exploration companies for 'strategic alliance' to develop Murray Brook Deposit
A Vancouver-based mining company is teaming up with a Quebec-based exploration company to form what they call a 'strategic alliance' to further develop a deposit at the Bathurst Mining Camp.
The deal was inked earlier this month and will see Trevali Mining Corporation shell out $7.5 million to help Puma Exploration acquire the Murray Brook Deposit in the Restigouche–Armstrong Belt region.
The transaction will also help Puma pay off an existing $2 million dollar loan.
Under the agreement, 75 per cent of the property will be owned by Trevali with the remaining 25 per cent being controlled by Puma.
The companies expect to move into production within two to three years, but say permitting, studies, and planning need to take place first.