04:50 PM EST, 02/07/2025 (MT Newswires) -- Waseco Resources ( WSRUF ) , after trade Friday, said Marigold Mining Co. has exercised its rights of termination under the Battle Mountain Ridge option agreement, dated July 2020.

The Battle Mountain Ridge property, located 10 kilometer south of the Marigold Mine, has produced over five million ounces of gold, the company said.

In 2022, Marigold completed a 14-hole drilling program on the property. The program confirmed gold mineralization, with about US$547,690 spent on qualifying expenditures, meeting the phase 1 work requirement, the company added.

Friday's statement noted six of the Marigold drill holes were in the area of the higher-grade North Zone, discovered by Waseco in its Hole #5, which ran 25.4 g/au over 3.7m (see News Release Nov 12, 2012). However, none of the holes were drilled in close proximity to Hole #5.