The Leeville 1% gross smelter return (“GSR”) royalty covers portions of West Leeville, Carlin East, Four Corners, Turf and other underground gold mining operations and deposits in the Northern Carlin Trend of Nevada (the “Leeville Royalty”). Leeville is included in the Nevada Gold Mines LLC (“NGM”) Barrick-Newmont Nevada joint venture (61.5%:38.5%, respectively). The Leeville Royalty has provided significant and ongoing payments to EMX since it was acquired by the Company in 2012.
In addition to royalty income from gold production, Leeville also provides EMX with upside exposure to ongoing exploration advancements on the property. NGM continues to expand resources and reserves along the Northern Carlin Trend, and has delineated a prospective trend of sediment-hosted gold mineralization that extends southeast from the Leeville underground mining complex towards the Pete Bajo mine. Segments of this trend are covered by EMX’s Leeville royalty property, which includes the Rita K project which started generating royalty revenue in 2021. Further upside was provided in 2021 with the first royalty payments from received from the Monarch mining operation.
EMX’s Leeville Royalty is in the heart of the Carlin Trend, which is the second largest gold mining region in the world.