12 www.resourceworld.com
j u n e / j u l y 2 0 1 4
80% cash of the project cash flow generated
and unveiled the operation's Q1 2014 results
on April 23, with 10,294 oz gold and 5,113
oz silver produced. This compares with
11,348 oz gold and 4,154 oz silver produced
in Q4 2013. Expansion drilling is also being
undertaken at Mineral Ridge, with the lat-
est results unveiled on April 14. Highlights
included hole MR14792, which intersected
9.27 g/t gold from 10.67-24.38 metres.
Terraco Gold Corp. [TEN-TSXV] holds
a gold royalty and royalty option of up to
3% NSR on the Spring Valley gold project,
a joint venture between Barrick Gold and
Midway Gold. It also holds the Moonlight
exploration project in Nevada. On April 10,
the company announced it was restructur-
ing its subsidiaries, with the Spring Valley
royalty assets and Moonlight explora-
tion land holdings to be placed within a
single wholly-owned US subsidiary. Other
assets will be held in another, separate US
subsidiary.
West Kirkland Mining Inc. [WKM-
TSXV] has numerous projects in Nevada
and one that straddles the state border with
Utah. On April 23, the company announced
it had completed the acquisition of an initial
75% stake in the Hasbrouck and Three Hills
properties from Allied Nevada Gold. West
Kirkland's subsidiary WK Mining (USA)
paid a total consideration of $20 million. On
February 24, West Kirkland released an
updated resource for the two properties.
Measured and indicated, Hasbrouck has
811,000 oz gold and just below 18.15 mil-
lion oz silver contained, while Three Hills
has 151,000 oz gold contained.
Western Lithium USA Corp. [WLC-
TSX] is advancing the Kings Valley
hectorite project. The company announced
approval of its environmental assessment
on March 11, which allows mine construc-
tion to begin. On April 16, the company
announced a bought deal offering of
C$8million that is set to close on May 9.
Proceeds will be invested in completing an
organoclay manufacturing plant that sched-
uled for commissioning in summer 2014,
just as mine operations come on stream.
In the future, the company aims to extract
lithium from the hectorite
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