South32 (ASX:S32) agreed to acquire a 19.9% interest in TSX Venture Exchange-listed American Eagle Gold for $22 million, the company said in a statement Monday.
American Eagle Gold has an option to fully acquire the Nakinilerak exploration project within the Babine copper-gold porphyry district in British Columbia, Canada.
The acquisition is expected to support American Eagle Gold's further drilling activities at the project, according to the statement.
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