Apollo Gold Corporation, (TSX: APG) (AMEX: AGT), has announced that they have acquired properties located within Hislop, Ontario, Canada from Newmont Canada Corporation, a subsidiary of Newmont Mining Corporation (NYSE: NEM). This property is known as the Pike River Property. 1,145 acres are included within the property which consists of the surface and mineral rights.
Apollo paid $100,000 Cdn. To Newmont and granted them perpetual 2.5% net smelter production royalty from the disposition of all materials produced from the Pike River Property.
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Apollo Gold Corporation
Apollo is a gold mining and exploration company which operates the Black Fox mine in Ontario, Canada and the Huizopa project, an early stage exploration project in the Sierra Madres in Chihuahua, Mexico. Apollo also owns the Montana Tunnels mine, which is a 50% joint venture with Elkhorn Tunnels, LLC, in Montana, which was placed on care and maintenance on April 30, 2009.
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