Aurizon can earn an initial 50% interest in the gold project, subject to underlying royalties, over a four-year period.
Tres-Or will be the operator for the initial program, and upon earning a 50% interest, Aurizon will be the operator and have the option to acquire an additional 15% interest by delivering a pre-feasibility study on the property, or incurring additional expenditures of $13m within a three-year period.
Upon formation of a JV, Aurizon will make a resource payment related to Tres-Or’s percentage interest in the gold contained in the Duvay property.
Tres-Or has consolidated a strategic land position covering 132 claims surrounding its advanced Duvay gold property in a promising part of the Abitibi belt.
Tres-Or has an agreement to earn a 100% interest in the Duvay gold property, and holds a 100% interest in the Duvay Nord, East Mac and East Mac Sud properties (collectively the Duvay Gold Project).
Tres-Or is a Canadian resource company exploring gold and precious metals projects and diamond assets in Ontario and Quebec.
