PERTH (miningweekly.com) – ASX-listed Birimian has struck a deal with joint venture (JV) vehicle Societe de Mines de Morila (Morila) that could lead to the commercial development of several gold deposits within the Massigui gold project, in Mali.
Under the terms of the agreement, Morila, which is a JV between Randgold Resources, AngloGold Ashanti and the government of Mali, will have a six-month option to acquire an area of interest within the Massigui project.
Upon exercise, Morila will pay A$1-million to Birimian, with the Australian company retaining a royalty of up to 4% on gold produced from 11 km2 area of interest.
The Massigui gold project surrounds the current Morila mine lease on three sides, and covers strike extensions of the highly prospective geological sequence that hosts the seven-million-ounce Morila deposit.
The area of interest covers the Ntiola and Viper gold deposits, which have an exploration target of between four-million and six-million tonnes, grading between 1.2 g/t gold and 1.8 g/t gold. The balance of the project area will remain within Birimian’s control.
Edited by: Creamer Media Reporter
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