Timberline Resources up 15 Percent on Talapoosa PEA – Gold Investing News

Timberline Resources (TSXV:TBR,NYSEMKT:TLR) kicked off the week with good news, reporting encouraging results from a preliminary economic assessment (PEA) for the Talapoosa property in Nevada.

Currently, Gunpoint Exploration (TSXV:GUN) owns Talapoosa, but Timberline acquired an option to purchase 100 percent of the property back in March. Under the terms of the agreement, Timberline can acquire the project at any time within 30 months of March 2015 for US$10 million, with Gunpoint retaining a 1-percent net smelter royalty on the project. Timberline may purchase the royalty at any time for US$3 million…….