Partnerships
Brett Resources
Brett Resources is a Canadian minerals exploration company whose
mandate is the discovery, acquisition, and development of
precious metals systems, with particular expertise in Canada and
Latin America. On June 22, 2006, Kinross and Brett Resources
reached an agreement whereby Kinross acquired an interest of
66.7% in the Santa Clara project in Brazil by funding US $5
million over four years of which US $500,000 is a firm first
year commitment. The Santa Clara project consists of two
exploration licences; Cerro Bonito (47km2) and Jicaras Largas
(36km2).
Verena Resources Kinross optioned the
Patrocinio project in Brazil from Verena Minerals Limited.
Kinross has the right to earn a 51 percent equity interest by
spending $3 million in exploration over a three year period and
has the exclusive right to earn a further 14 percent by spending
an additional $5 million by the fifth anniversary of the
agreement. Kinross has also purchased seven million common
shares of Verena.
Geocom Geocom Resources Inc. entered
into an exploration venture with Kinross Gold Corporation on its
south Chile Recon program. The venture covers Region Ten of
south Chile, where previous exploration in 2005 and 2006 by
Geocom confirmed the existence of anomalous gold, copper, and
other elements identified in a proprietary database developed by
a Geocom consultant. Kinross and Geocom will
jointly explore and acquire gold and other mineral targets
developed by the exploration program. Properties acquired by the
venture will be managed via individual joint venture on a 50-50
basis. Kinross has the right to acquire a majority interest by
making additional expenditures on individual properties and by
exercising warrants granted to Kinross by Geocom.
Lincoln Gold Corporation In December,
2005, Kinross entered into a joint venture option agreement with
Lincoln Gold Corporation whereby Kinross Gold Corporation can
ultimately earn up a 75% interest in the Jenny Hill property by
spending US$3 million over five years, by preparing a
feasibility study thereafter, and by helping to arrange
financing on behalf of Lincoln. The Jenny Hill property is
located in the Black Hills, Mineral County, Nevada,
approximately 15 miles west of the small mining town Gabbs. The
claim block covers what appears to be a Carlin-type gold system
and a nearby gold skarn system. The geochemical signature is
similar to those associated with large gold deposits in the
Carlin and Cortez trends. Potential for a Carlin-type deposit
exists under pediment gravels immediately adjacent to Jenny Hill
at the northern end of the claim block. Remarkably, Jenny Hill
has never been drilled. Lincoln has completed extensive
sampling, a detail ground magnetic survey over the entire claim
block and a gravity survey in the vicinity of Jenny Hill.
Geologic mapping is in progress. Permitting has been completed
and Kinross plans to drill several targets on the Jenny Hill
property.
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Teryl Resources Kinross has an 80%
interest and is a join venture partner with Teryl Resources in
the Gil property which is located in the Fairbanks Mining
District, Alaska. The Gil Mineral Claims are located
approximately 5 miles east of Kinross’ Fort Knox mine and 19
miles northeast of the city of Fairbanks.
The Gil claims consist of Main Gil Area,
Sourdough Ridge, Intrusive Ridge, All Gold Ridge and Too Much
Gold Ridge. During the first half of the 2004 Kinross initiated
an exploration program involving rock and soil sampling,
geologic mapping, 1,020 feet of trenching and 18 reverse
circulation drill holes totaling 4,175 feet in order to define
the potential for an exploration program. This work generated
several new exploration targets in the Main Gil Area and along
Sourdough Ridge. |
