Partners Placer Dome (PDG-T) and Etruscan Resources (EET-T) have modified their agreement pertaining to the latter’s Tiawa gold concession in western Niger.
Placer can now earn a 51% interest in the entire 1,241-sq.-km property by paying US$60 million to Etruscan and spending an additional US$10 million on exploration. To complete a scoping study on the Samira gold deposit, the major is required to spend a further US$500,000. Also, Placer is no longer required to purchase US$8 million worth of Etruscan shares.
The original agreement, signed late last year, served only an 81-sq.-km portion of the property. At last report, resources at Samira were pegged at 27.8 million tonnes grading 2.02 grams gold per tonne.
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