Canamex, Arizona, Guyana Goldstrike, Cabral Gold and Altamira Gold will work together on future crypto-token offerings which will help them to fund their various exploration and mining operations.
More companies are looking to join the alliance, Canamex said.
Canamex Gold Corp (CVE:CSQ) has formed an Ethereum Blockchain Strategic Alliance for gold and silver asset-backed crypto-tokens with four other junior mining companies.
The other founding members of the alliance are Guyana Goldstrike Inc (CVE:GYA), Cabral Gold Ltd (CVE:CBR), Arizona Silver Exploration Inc (CVE:AZS) and Altamira Gold Corp (CVE:ALTA).
The five companies will work together on future offerings of crypto-tokens and potential future initial token offerings (ITOs).
These offerings may be backed by gold and/or silver forward delivery to help the five miners fund future exploration, feasibility studies and, further down the line, mine development and expansion.
Additional parties are also looking to join the alliance, Canamex said, with discussions currently underway.
At the end of 2017, the company told investors it had secured the exclusive rights to six Ethereum crypto-token domain names, ticker codes and associated smart contracts.
“The alliance seeks to utilise innovative gold and/or silver royalty stream funding models, for gold and/or silver asset backed crypto-tokens, trading and clearing on the Ethereum blockchain, for the purposes of funding gold and silver exploration and mine development, for the Alliance members,” said Canamex chief executive David Vincent.
“Interest in the blockchain technology, for secondary market trading and clearing is growing.
“For example, the Canadian Securities Exchange has recently unveiled plans to develop Canada’s first platform for clearing and settling securities using blockchain technology.”