Fairchild Gold Corp. (TSXV: FAIR) has announced the acquisition of 72 unpatented lode mining claims from Koba Resources Ltd., significantly expanding its Copper Chief Property near Goodsprings, Nevada. This strategic move enhances the company’s exploration potential in a region known for its rich copper, gold, and other critical mineral deposits.
The agreement involves Fairchild issuing 3 million common shares at a deemed price of CAD $0.05 per share to Koba Resources. Additionally, Koba will retain a 1.0% Net Smelter Returns (NSR) royalty on the claims, with Fairchild reserving the right to buy back half of the royalty for CAD $1 million. The transaction is subject to approval by the TSX Venture Exchange.
The recently obtained claims feature promising exploration prospects, including the December Mine, an antimony-gold prospect, the Poppy Shaft, a gold system, and the Fitzhugh Lee, Rose, Mobile, and Columbia Mines, which are porphyry copper-gold targets. Fairchild will also gain access to Koba’s geochemical sampling and geophysical data, which will support future exploration initiatives.
Located just 22 miles southwest of Las Vegas, the Copper Chief Property benefits from excellent infrastructure and accessibility. The property hosts a variety of mineralization types, including porphyry copper-gold systems, carbonate replacement deposits, and skarn-related mineralization. In addition to copper and gold, the area is prospective for silver, platinum group elements (PGEs), cobalt, and antimony.
The December Mine prospect is particularly noteworthy, with historical assays showing antimony concentrations as high as 4,500 grams per ton. This acquisition allows Fairchild to pursue these promising targets without restrictions.
Fairchild has identified several key exploration priorities for the year, focusing on untested targets with significant discovery potential. The Copper Chief Porphyry is being investigated for a shallower porphyry system indicated by high-grade surface copper mineralization, while the Sandy Veins are targeted for gold, silver, PGEs, and cobalt mineralization. The Ironside Fault is being explored for antimony-rich zones at historic mines like December and Knickenbocker, and the Rose and Columbia Mines are under review for porphyry copper-gold systems. Additionally, the Whale Cobalt Target is being assessed for its cobalt potential. Since none of these targets have been previously drilled, they represent promising opportunities for new discoveries.
Luis Martins, CEO of Fairchild Gold Corp., emphasized the importance of this acquisition in advancing the company’s exploration goals, “This agreement with Koba Resources Ltd expands our Copper Chief asset with high-potential claims backed by robust geological data. Our team will evaluate and reprocess this information to confirm the potential for copper and gold while also exploring opportunities in PGEs, antimony, and cobalt.”
Fairchild is a resource company that is focused on exploring and developing precious and base metal properties in North America. Its primary projects include the Copper Chief Property in Nevada and the Fairchild Lake Property in Ontario. This acquisition positions Fairchild to capitalize on Nevada’s prolific mineral belts while diversifying its portfolio with critical metals essential for modern technologies.
