The Leeville royalty property is located on the northern end of the Carlin Trend in north-central Nevada. EMX owns a 1% royalty at Leeville and was added to the EMX portfolio through the 2012 merger with Bullion Monarch. The Leeville royalty property covers a portion of Newmont Mining Corporation's underground gold mining operations on the Northern Carlin Trend, including much of the Leeville mine and Four Corners deposit, as well as lesser proportions of the Turf and Carlin East mines. The Leeville royalty is a key Company asset, and has provided a significant revenue stream to EMX since its acquisition.
A major milestone to "increase production", "unlock" additional resources, and impact "greater Leeville", which includes portions of EMX's royalty property, was achieved by Newmont with the commissioning of the Turf Vent Shaft project. This $330 million investment in development added significant value to EMX's Leeville royalty, at no cost to the Company.
In addition to royalty income from gold production, Leeville also provides EMX with upside exposure to ongoing exploration advancements on the property. Newmont has delineated a prospective trend of sediment-hosted gold mineralization that extends from the Leeville underground mining complex southeast to the Pete Bajo mine. Segments of this trend are covered by EMX's Leeville royalty property, which include portions of the Rita K and Full House gold projects.