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F E B R U A R Y / M A R C H 2 0 1 7 www.resourceworld.com 31 ADVANCING THE RELIEF CANYON MINE • Robust Economics • Strong Leverage to Gold Price • Attractively Valued • Fully Permitted Processing Facility • Proven Mining Jurisdiction • Veteran Management PershingGold.com | NASDAQ/TSX: PGLC | FWB: 7PG1 TSX-V: AOT www.ascotgold.com 1550 – 505 Burrard Street Vancouver, BC V7X 1E5 T. 778-725-1060 F. 778-725-1070 contact: Lisa Chapman at lchapman@ascotgold.com • Well financed • 100 km land package • Successful management • Excellent infrastructure • Extensive drilling successfully completed • Near term high grade potential High Grade Drill Results in the Golden Triangle mining company with a strong cash bal- ance needs to replenish its project pipeline. These types of partnerships offer explora- tion companies access to capital, specialist expertise and improved credibility through association with a major brand. The typical joint venture allows the major to earn an interest in a property by funding exploration and development work in stages over a defined period. In the majority of the cases the major is given the authority to manage the work and staff the project with its own personnel and can often increase its interest by exercising an option, or options, to fund and conduct additional work. For investors, a joint venture minimizes risk during exploration for the junior exploration company while insuring there is appropriate technical and financial capability. Joint venture partnerships between two exploration-stage companies are also com - mon if the companies have complimentary properties and expertise. Similar in nature to the joint venture partnership with a major, one or more exploration partners provide exploration financing in return for equity in the property and one or both of the partners provide exploration and tech - nical expertise to operate the exploration program. The benefits for investors are that, usually, the two exploration compa- nies' objective of advancing the project as quickly as possible are aligned, while shareholder dilution can be minimized. Partnerships between an exploration company and a foreign national min - ing company are also common when the exploration company and the project they own are in different countries. For example, a silver project in Mexico owned by a Canadian junior, where an established Mexican mining company provides equity in return for interest and becomes the operator of the project. The LEFT: The Mag Silver/Fresnillo joint ventured Juanicipio silver project in Zacatecas State, central Mexico. Photo courtesy MAG Silver Corp.