JOHANNESBURG (miningweekly.com) – TSX-listed Endeavour Mining and LSE-listed Randgold Resources have teamed up to explore their adjacent Sissedougou and Mankono exploration properties, in Côte d'Ivoire.
Randgold and Endeavour will hold a respective 70% and 30% interest in a newly formed joint venture (JV) that combines the two permits.
“This JV will allow us to accelerate exploration on our Sissedougou property, while we continue to focus our efforts on our 100%-controlled 80 km corridor along our Ity mine, which our exploration strategic review identified as our highest priority,” said Endeavour president and CEO Sébastien de Montessus.
Randgold noted that the move would provide it access to the prospective ground to the immediate north of Mankono.
Under the terms of the agreement, Randgold will be the JV operator, with both companies contributing accordingly to the yearly exploration budget.
Endeavour had approved $3.8-million for its exploration campaign for the remainder of 2017 and 2018.
Edited by: Creamer Media Reporter
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