American Gold & Copper Acquires Rimrock Copper-Gold Project in Nevada for $10 Million
American Gold & Copper Inc. (AGCI) has signed a definitive agreement to acquire the Rimrock Copper-Gold Project in Nevada's Battle Mountain Mining District for $10 million, paid entirely in AGCI common stock and including assumed liabilities. The acquisition adds approximately 1,540 acres across 77 mining claims and includes an initial commitment of $1.5 million over 18 months to fund Phase I exploration activities such as drilling. The project has a historical database from prior geological surveys, sampling, and geophysical work that identified a potential 17-kilometre corridor with mineralization anomalies. However, no compliant resource or reserve estimate currently exists for Rimrock, and AGCI notes it has not independently verified the historical data through an updated technical report. The transaction marks AGCI's expansion into U.S.-based copper-gold exploration alongside its existing operations in Bolivia. The stock-based payment structure avoids immediate cash outlay but may involve dilution depending on share issuance terms.
Tickers: $EVLI
Topics: Copper-Gold Exploration Mining Nevada Mining District