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Star Gold Corp (OTC:SRGZ) has announced the termination of its previously announced non-binding Letter of Intent to acquire properties from Romios Gold Nevada Inc. The company will instead redirect its focus to developing its Longstreet property.
CEO Lindsay Gorrill cited the challenging capital-raising environment for junior mining projects in Nevada and the current gold price environment exceeding $3,000 per ounce as key factors. The company believes Longstreet aligns with current investor preferences for projects that can potentially begin production within three years while offering long-term growth potential.
Star Gold plans to proceed with infill drilling at Longstreet and advance its permitting process while exploring other promising targets on the property.
