Canada based gold mining company Osisko Mining Corporation (Osisko) has acquired 9.2% stake in Threegold Resources, following purchase of 8.6 million common shares.
In addition, Osisko signed an option agreement to earn up to 70% interest on the Standard Gold Property located in the Abitibi region of Quebec, Canada.
Osisko will incur $4m dollars of exploration expenditures over five years and pay $300,000 in cash payments to earn a 51% interest, under the terms of deal.
Osisko can also gain 19% interest by investing $6m in exploration activities and feasibility studies.