Miranda Gold Corp. and Romarco Minerals Inc. Amend Terms on Red Canyon Joint Venture

Under the terms of the Agreement, Romarco can earn a 60% interest by spending US$3,000,000 over five years. Following completion of the initial earn-in, Romarco may then elect to earn an additional 10% interest (for a total of 70%) by funding a feasibility study. Romarco is the operator of the proje...

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Bibliographic Details
Published inMarketwire p. 1
Format Trade Publication Article
LanguageEnglish
Published Toronto Intrado Digital Media Canada Inc 24.07.2007
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Summary:Under the terms of the Agreement, Romarco can earn a 60% interest by spending US$3,000,000 over five years. Following completion of the initial earn-in, Romarco may then elect to earn an additional 10% interest (for a total of 70%) by funding a feasibility study. Romarco is the operator of the project during the term of the Agreement. Miranda personnel have contributed to the project by completing a 421-station soil-sampling geochemical survey and an ongoing rock-chip sampling and geologic mapping. All work has been funded by Romarco. These systematic data sets are in the process of being evaluated to identify drill targets. Target selection is set for the end of July and permitting will commence immediately thereafter. Drilling, subject to availability of a qualified drill contractor is envisioned for the Fall of 2007.