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Heritage Mining Announces Favourable Amendment and Closing of the Melba Asset Purchase Agreement
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Junior Mining News
Melba Acquisition HighlightsHeritage enters the Kirkland Lake Camp via its purchase of a 75% interest in the Melba Mine, (Figure 1).
Highlights of the Melba Mine project include:In 1936, Melba Gold Mines Limited drilled 20 diamond holes that intersected the Blue Vein with visible gold reported in 10 of the first 18 holes (Assessment Diamond Drilling Report, May 15, 2023).
“The Melba Mine acquisition offers the Company exposure to the well-known mining camp (Kirkland Lake and Timmins).
We look forward to communicating next steps in short order.” Commented Peter Schloo, President CEO, and Director of HeritageMelba Asset Purchase Agreement Summary:Purchase Price1.
Heritage also agrees to pay the Vendor the Consideration Shares (as defined below)(the Cash Consideration and the Consideration Shares collectively being the “Purchase Price”).
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