An option to earn a 40% interest in Canadiana Gold Resources, which holds the exploration rights to two gold concessions in Ghana, Africa, has been acquired, subject to regulatory approval, by Argrel Resources (VSE). One of the concessions is a former producer and lies contiguous to the producing Ashanti Goldfields property in that country.
Argrel must spent $2 million on exploration and development work to earn its interest. A joint venture arrangement is planned, with Argrel having 40% and Canadiana’s parent, Akrokeri-Ashanti Gold Mines, holding the other 60%.
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