Royal Gold Reports Second Quarter 2019 Results

 

DENVER, CO - Tony Jensen, President and CEO of Royal Gold, Inc., said, “We took our first step toward realizing value for our equity interest in the Peak Gold Project near Tok, Alaska. We believe that Peak Gold is a very attractive opportunity for an operating company that can bring additional talent to advance the project towards production. Royal Gold will remain committed to the project over the long term through our existing royalty interests, and our considerations for any potential transfer of ownership will include a commitment to advance the project as a priority while respecting best practices for responsible development.

The results of the PEA are a significant milestone and show that the Peak Gold Project is one of the most interesting emerging gold projects in the United States. The combination of robust grade, near-surface open-pit resource, and a large and prospective land package located close to existing infrastructure, makes the Peak Gold Project unique.”

The PEA considers a conventional truck and shovel open-pit mining operation covering the North, Main and West Peak deposits, feeding a 3,500 tonne per day processing plant with two-stage crushing, grinding and a carbon in leach (CIL) recovery circuit, with production of gold-silver dore bullion on site. 

Peak Gold is a joint venture between Royal Alaska and CORE Alaska, LLC (“CORE Alaska”), a wholly-owned subsidiary of Contango ORE, Inc. Peak Gold holds a 675,000 acre lease with the Native Village of Tetlin and an additional 175,000 acres of State of Alaska mining claims, all located near Tok, Alaska, on which Peak Gold explores for minerals.