Northern Discovery Metals to Acquire Cibola Copper-Gold Project in British Columbia
Mining News | 2026-10-08 23:41:57
Under the purchase terms, Northern Discovery will pay a total of $130,000 and issue 700,000 common shares in staged payments tied partly to drilling permits, while granting Orogen a 2% net smelter returns royalty reducible to 1.5% upon a future buy-down.
By Paul Ploumis
SEATTLE (Scrap Monster): Northern Discovery Metals Inc. has agreed to acquire a 100% interest in the Cibola copper-gold project in British Columbia from Orogen Royalties Inc., adding 3,567 hectares of road-accessible mineral claims about 90 kilometres south-southwest of Houston. The project sits in a region known for porphyry copper-molybdenum deposits, with historical work outlining significant geophysical anomalies and shallow drilling that support the potential for a copper-gold-molybdenum porphyry system, though no economic deposit has been defined.
Under the purchase terms, Northern Discovery will pay a total of $130,000 and issue 700,000 common shares in staged payments tied partly to drilling permits, while granting Orogen a 2% net smelter returns royalty reducible to 1.5% upon a future buy-down. The deal, which is subject to CSE approval and other closing conditions, expands Northern Discovery’s exploration pipeline but also commits it to drilling milestones and royalty obligations that will influence future capital allocation and potential project economics for shareholders and royalty holders.
More about Northern Discovery Metals Inc
Northern Discovery Metals Inc. is a mineral exploration company focused on copper, gold and molybdenum projects, with listings on the CSE and FSE. The company targets road-accessible porphyry systems in British Columbia and other prospective regions, aiming to build a diversified portfolio of early-stage exploration assets.
Courtesy: www.tipranks.com
