Terra Rossa Gold Ltd. has received drill permits and is constructing drill pads at the Bravada Gold Corporation (TSXV:BVA,FWB:BRT) Signal property, located along Nevada’s Battle Mountain/Eureka Gold trend, northwest of the Eureka District. Drilling is anticipated to begin the week of June 18th and is expected to consist of 2,000 to 2,500 meters of core.
As quoted in the press release:
Terra Rosa can earn an initial 51% interest in the project by spending US$2,150,000 over a four-year period with staged work commitments, starting with $250,000 in the first year, and issuing to the Company 250,000 common shares commencing after the first anniversary. Terra Rosa can earn an additional 19% by further spending US$3,850,000 and issuing to the Company another 200,000 common shares over a subsequent three-year period.