Flow Metals Corp. has entered into a binding option agreement to acquire a 100% interest in 154 quartz claims in the Dawson Mining District, Yukon. The transaction expands the company's land position at the Sixtymile project to approximately 16,800 hectares and introduces a new epithermal gold exploration target to its portfolio.

“We have been working to expand our control of the Sixtymile Gold District, and this acquisition is another important step in that strategy.”

“The expanded project now encompasses the headwaters of the historic Miller, Glacier, Bedrock and Little Gold placer-producing drainages, increasing our land position to approximately 16,800 hectares.”

— Scott Sheldon, President and CEO of Flow Metals

The acquisition provides Flow Metals with the opportunity to test a "telescoped" hydrothermal model, which potentially links deep orogenic gold-bearing structures with younger epithermal systems. The newly acquired property features geological indicators such as cinnabar-bearing veins, silica sinter, and bladed quartz-lined vugs.

To exercise the option, the company must pay an aggregate of $180,000 to the optionor, with cash or share-based payments scheduled annually between 2027 and 2030. Specifically, payments of $10,000, $20,000, and $30,000 are due on August 7, 2027, 2028, and 2029, respectively, followed by a final payment of $120,000 on August 7, 2030. Upon exercise, the optionor will retain a 2.5% net smelter returns royalty, of which the company may repurchase 40% before the start of commercial production.

Additional milestone payments are linked to project performance. A one-time payment is triggered if Flow Metals reports a mineral resource estimate containing at least 500,000 ounces of gold or gold equivalent. A second milestone payment is triggered upon the completion of 2,500 metres of drilling on the property. In both instances, the optionor may elect to receive the payment in either cash or company shares.

Read the full announcement: Flow Metals Options Adjoining Epithermal Gold Project at Sixtymile