Gold mining company B2Gold has agreed a strategic investment into Yukon-focused exploration company Prospector Metals.
B2Gold will subscribe for 5.58-million shares at C$0.163 a share for gross proceeds of about C$909 311, said TSX-V-listed Prospector.
Prospector’s flagship asset is the ML project, about 80 km from Dawson City and 25 km north-east of the former Brewery Creek gold mine.
“We are excited to have B2Gold as a keystone shareholder in Prospector Metals and our team is looking forward to their technical input on our flagship ML project, Yukon,” commented CEO Rob Carpenter.
“The investment and technical partnership will allow Prospector to advance the ML project more efficiently and it represents an endorsement of our exploration philosophy and targeting methods.”
Prospector states that ML hosts one of the few remaining Tombstone-style intrusions in the Yukon that has not been systematically explored with no significant work completed since 2008 and as such, no modern intrusion-related gold exploration models have been applied to ML.