Talisker Resources has agreed to acquire New Carolin Gold, the owner of the Ladner Gold Project in Canada, in an all-stock deal that values each share of the latter at CAD0.095 ($0.075).

Both the companies are publicly listed in Canada and the deal will be executed in accordance with a court-approved plan of arrangement.

As per the terms of the deal, each New Carolin Gold share will be exchanged for 0.3196 of Talisker Resources’ shares.

The acquisition will be subject to shareholder and court approvals, applicable regulatory approvals, and certain other closing conditions.

Talisker Resources president and CEO Terry Harbort said: “The acquisition of New Carolin is directly in-line with Talisker’s strategy to consolidate quality mineral assets in south central British Columbia.

“The Ladner Gold Project forms a strong complement to our flagship asset at Bralorne with a compliant mineral resource estimate and a district size land package, and we expect this purchase to represent another transformational transaction for Talisker.”

The Ladner gold project, which is located in southwestern British Columbia, includes the past producing Carolin gold mine.

Located in southern British Columbia, the exploration-stage project is made up of mineral claims spanning an area of nearly 14,380ha in the northern part of the Coquihalla Gold Belt.

As per New Carolin Gold’s technical report in 2015, the Ladner Gold Project has 691,540 inferred ounces of gold.

Talisker Resources is also a junior resource company, which has been engaged in exploration of gold projects in British Columbia.

Its portfolio includes an advanced stage project in the form of the Bralorne Gold Complex, which is said to have considerable exploration potential from a historical producing gold mine. The company is also involved in the Spences Bridge Project and various other early-stage greenfield projects in the Canadian province.

Earlier this year, New Gold, a Canada-focused intermediate mining company, acquired a stake of 14.9% in Talisker Resources.