Wednesday, 13th July 2005 (2822 views)

De Beers Canada, one of the world's leading diamond outfits, has agreed to embark upon a new partnership with Pure Gold Minerals Inc involving the Lake Courageous property.

National Jeweler Daily News has announced this latest development in a report that outlines the principal conditions of the contract.

Over the next four years Pure Gold is required to spend $1.2 million on exploration of the property situated in Northwest Canada.

If findings are over a certain value, De Beers will have the option to buy back a 70 per cent interest for a pro rata amount, double the amount spent by Pure Gold.

In a company statement, president Richard Molyneux seemed confident of a positive outcome: "The property at Courageous Lake has yielded positive results, and we are confident that Pure Gold has the expertise and resources to successfully discover the source of these results."

This will add to the other two mining projects already under development by De Beers.

 

« Back to Gold News stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.