Battle North Gold Signs Commitment Letter for a US$40 Million Credit Facility to Fully Fund the Development of the Bateman Gold Project
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Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) (
Battle North or the
Commitment Letter ) with Macquarie Bank Limited (
Macquarie ) for a senior secured term loan facility of US$40 million (
Credit Facility ) to be used to fund the construction of the 100%-owned, shovel-ready Bateman Gold Project (the
Project )[1] in Red Lake, Ontario, Canada. The proceeds of the Credit Facility, together with cash currently on the Company s balance sheet, is expected to fully fund the Project to Commercial Production.
Battle North tables McFinley zone resource with potential to supplement Bateman feed December 14, 2020
Commodities
Developer Battle North Gold has released a resource estimate for the McFinley zone, located along a 4-km-long corridor stretching out from the F2 gold deposit at its Bateman gold project in Red Lake, Ont.
The resource features 205,700 measured and indicated tonnes grading 6.04 g/t gold totalling 40,000 gold oz., and 259,300 inferred tonnes at 8.53 g/t gold for 71,100 oz. The estimate is based on a break-even incremental economic cut-off grade of 3 g/t gold and assumes the use of the infrastructure and processing facilities at the Bateman project.