Fairchild Gold Corp. has provided additional details regarding its previously announced acquisition of a 100% interest in the Golden Arrow Property, outlining specific financial terms that include a US$3.5 million senior secured promissory note payable to Emergent Metals Corp. The note bears 8.5% interest over a five-year term and is secured by the property assets, with step-up provisions that could increase the principal to US$5 million if not repaid within four years.
The agreement includes a 0.5% net smelter return royalty with buyout options, alongside the assumption of existing royalty obligations. The company is moving to secure required shareholder approval for the transaction, which represents a significant expansion of its Nevada property portfolio. The Golden Arrow property is located in the prolific Walker Lane Shear Zone and encompasses two principal resource areas: Gold Coin and Hidden Hill, with a combined measured + indicated and inferred resource base outlined in an NI 43-101 report written by Mine Development Associates.
This acquisition aligns with Fairchild Gold's strategy of identifying and developing high-quality resource properties in Nevada with strong geological resource potential. The company's recently assembled trinity of Nevada properties includes Nevada Titan, its flagship property located in the Goodsprings Mining District, an area known for historical high-grade copper-gold-PGEs mining. Nevada Titan has also been highlighted for its near surface Antimony and Cobalt potential.
Fairchild's third property, Carlin Queen, represents an advanced-stage gold-silver project located at the intersection of the Carlin and Midas-Hollister gold trends. The company is leveraging the potential of all three properties by utilizing the outstanding mineral resources support Nevada provides. Fairchild Gold Corp. is a public company engaged in the business of mineral exploration and development of copper, gold and silver assets in mining-friendly jurisdictions across North America.
The company's strategy focuses on creating long-term shareholder value through disciplined exploration, strategic partnerships, and responsible development practices. The latest news and updates relating to FAIR are available in the company's newsroom at http://ibn.fm/FAIR. This financial structuring demonstrates how junior mining companies utilize various financing mechanisms to acquire and develop mineral properties while managing capital requirements and shareholder expectations in competitive mining jurisdictions.
