Exploration on nine Bolivian gold properties is about to begin now that a joint-venture agreement between Jordex Resources (TSE) and Barrick Gold (TSE) is complete.
Barrick recently completed its due diligence and, as operator, established a field office in Santa Cruz de la Sierra. Work crews are now being assembled for the start of geological programs.
The agreement involves six properties in the Sam Ramon greenstone belt and three in the Cristal schist belt, together comprising 75,000 hectares of eastern Bolivian shield rock.
Barrick has the right to earn a 60% interest in the properties by funding US$2 million in exploration expenditures over two years ($1 million minimum the first year) and by making staged cash payments to Jordex totalling $350,000 over the same period. Barrick can increase its interest in selected properties to 75% by funding expenditures to a production decision.
Be the first to comment on "Barrick starts field programs"