Canasia and Kinross Gold USA signed a mineral agreement this week.
Canasia is a Canadian mineral exploration company that owns sub-company, Gold Property and Prospect properties in the western United States and in Canada.
Kinross Gold is a New York listed gold company that is also the third largest primary gold producer in North America. Based in Canada, Kinross has 9 mines worldwide.
The nature of the deal is with regard to Canasia’s Debut Gold Property in Elko County, Nevada. Kinross will make royalty payments to Canasia over a period of 15 years that will require a minimum of $3 million for exploration of the property.
Canasia reportedly considers this a “significant milestone” and also has asserted that this will be the first of many deals of this nature.
Surging demand for gold and gold bullion in uncertain economic times is occurring and is indicative of gold’s growing value.
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