Thursday, 21st July 2005 (3245 views)

StrataGold Corporation has announced that it has been granted a 1,001,927-acre (4,054.7 square kilometres) Permission for Geological and Geophysical Survey (Barama Reconnaissance Permit).

The agreement covers land surrounding the Company's Tassawini property in Guyana and provides StrataGold with the exclusive right to conduct exploration on the Barama Reconnaissance Permit for a period of two years in exchange for a US$40,928 annual payment.

During the two-year period, StrataGold will have the right to select twenty Prospecting Licenses, each up to 12,800 acres (51.8 square kilometres) in size, for gold and/or other valuable minerals.

The prime minister of Guyana, Honourable Samuel AA Hinds, and Robeson Benn, the commissioner of the Guyana Geology and Mines Commission ('GGMC'), attended the signing ceremony on July 14th 2005.

Terry Tucker, president of StrataGold, commented: "This agreement is important strategically for StrataGold as it secures a large land position in an area geologically similar to our successful Tassawini project and where previous exploration has identified several high priority gold targets."

The Barama Reconnaissance Permit is located around the Tassawini property within the northern Archean-Proterozoic Guiana Shield and is comprised of E-W to NE-SW trending Birrimian greenstone belts.

 

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