Once it earns its initial stake, Freeport can up its interest to 80% by funding C$30 million in work at Todd Creek over five years and making staged payments totalling C$750,000.
After Freeport has finalized its ownership level (whether at 51% or 80%), each party will be responsible for funding its proportionate share of work at Todd Creek.
ArcWest believes the project, which it says covers one of the fundamental north-south structural corridors in the Stikine terrane and is near multiple major projects and mines, could be an analogue to the Hod Maden gold-copper project in Turkey.
“ArcWest looks forward to advancing our Todd Creek project in partnership with Freeport, one of the world’s largest copper miners and a team with a track record of global copper-gold discoveries that have proceeded to mine development,” said Tyler Ruks, president and CEO of ArcWest, in a release.
“ArcWest’s Todd Creek project is host to one of…
