The acquisition expands Dryden Gold’s footprint in a historic gold camp, targeting a 2.4km gold anomaly identified by prior sampling.
Dryden Gold has agreed to acquire the Lost Lake Property, comprising 123 mineral claims in Ontario’s Gold Rock Mining Camp, from Orebot. The deal includes cash payments totaling C$100,000 ($70,344.45) and 125,000 common shares, subject to TSX Venture Exchange approval.
The property lies within a gold-mineralized zone and aligns with a 2.4km gold grain anomaly previously identified through till sampling. Orebot conducted mapping and heavy metal processing at the site, which borders Dryden Gold’s existing claims.
Upon completion, Dryden Gold will grant Orebot a 3% net smelter return royalty, with an option to buy back half. Shares issued will be subject to a four-month hold period.