Tuesday, 22nd July 2008 (408 views)

Nirek Resources is to acquire 45 per cent of a gold property in Peru.

The announcement came after the company signed a letter of intent to become a joint venture partner in the AMR project.

The property is located in the Ayapata district of Peru and covers 500 hectares.

Reserves on the area are calculated to be 2,343,000 cubic metres to a depth of three metres and the report from September last year reported a gold grade average of 2.1 grams per cubic metre.

Over the next year Nirek Resources will pay $3 million (£1,49 million) and give two million shares in the company in order to receive the 45 per cent stake.

Nirek Resources is an exploration company from Canada.

In April this year the company announced it had completed its acquisition of the Sarah Lake property in northern Quebec.

The agreement gave the organisation the option to earn a 100 per cent interest in the property over the next three years.

 

« 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.