GOLDRICH MINING COMPANY (OTCMKTS:GRMC) Files An 8-K Other EventsItem 8.01
Goldrich Mining Company (the “Company) announced the following:
Goldrich Mining Company, its subsidiary and joint venture (collectively “Goldrich”), as claimants, have filed an arbitration statement of claim against NyacAU, LLC (“NyacAU”), BEAR Leasing, LLC, and Dr. J. Michael James, as respondents. The arbitration statement alleges claims concerning related-party transactions, accounting issues, interpretation of the joint venture operating agreement, and unpaid amounts due Goldrich relating to the Chandalar Mine.
The Chandalar mine is owned by Goldrich NyacAU Placer, LLC (“GNP”), a 50/50% joint venture between Goldrich and NyacAU, to mine the various placer deposits that occur throughout Goldrich’s 23,000-acre Chandalar gold project in Alaska. NyacAU is the manager of the joint venture.
Financial Statements and Exhibits.
News Release, December 6, 2017.*
* Furnished to, not filed with, the SEC to Item 8.01 above.
GOLDRICH MINING CO ExhibitEX-99 2 ex99.htm NEWS RELEASE Goldrich Mining Company Exhibit 99.1 Goldrich Mining Announces Filing of Arbitration Claim SPOKANE,…To view the full exhibit click
About GOLDRICH MINING COMPANY (OTCMKTS:GRMC)
Goldrich Mining Company is an exploration-stage minerals company. The Company is engaged in the business of acquiring and advancing mineral properties to the discovery points. The Company’s mineral exploration prospects are contained within its Chandalar property, located approximately 190 air miles north of Fairbanks, Alaska and over 40 air miles east of the Dalton Highway. The Chandalar property contains both the Company’s Chandalar hard-rock (lode) gold project and the Little Squaw Creek alluvial gold mine. The Company has completed approximately 15,000 feet of drilling on the upper half of the Little Squaw Creek placer project and outlined over 10.5 million cubic yards of mineralized material, at an average head grade of over 0.025 ounces of gold per cubic yard for an estimated total of approximately 250,000 contained ounces. The Company’s Chandalar property is approximately 22,860 acres, consisting of patented federal mining claims and unpatented State of Alaska mining claims.