Saracen Mineral Holdings (ASX: SAR) has announced that AngloGold Ashanti Australia (AngloGold) will spend up to A$25 million exploring Saracen’s Carosue Dam North tenements under a Farm-in and Joint Venture Agreement signed by the two companies.
The Joint Venture encompasses two tenement packages, Butcher Well and Lake Carey, covering approximately 339.56sqkm at the north of Saracen’s Carosue Dam project.
Saracen Managing Director Raleigh Finlayson said he was delighted to form a joint venture with such a highly regarded partner.
“The Agreement with a company of AngloGold’s standing and exploration track record reflects the quality of the Carosue Dam North tenements and supports Saracen’s strong belief in the potential of this world class district,” Mr Finlayson said.
“We look forward to the start of the Carosue Dam North exploration program, which will add to the aggressive drilling activity already being undertaken by Saracen as part of its current A$42 million exploration budget.”
Source: Ghana/AccraFM.com
