Menu

Gowest to Acquire 50% Ownership Interest in Redstone Mill

January 23, 2017 - releases
Gowest to Acquire 50% Ownership Interest in Redstone Mill

Gowest Gold Ltd.(TSX VENTURE:GWA)is pleased to announce that it has entered into a non-binding letter of intent with Northern Sun Mining Corp. (“Northern Sun”), a corporation existing under the laws of the Province of Ontario, with respect to the creation of a joint-venture corporation (“JVco”) that will own and operate the Redstone Mill (the “Transaction”). Upon completion of the proposed Transaction, each of the parties will hold a 50% interest in JVco.

The Redstone Mill, located near Timmins, Ontario, is currently 100% owned by Northern Sun and has the capacity to process approximately 1,500 tonnes of ore-per-day. Located just south of Gowest’s Bradshaw Gold Deposit, which forms part of its North Timmins Gold Project, the Redstone Mill is well-situated to satisfy Gowest’s anticipated future ore processing requirements.
read more

-->