Two Montreal-listed juniors, Chesbar Resources and Spirit Lake Resources, have agreed to acquire a private Venezuelan company which holds 2,100 hectares in the Bochinche gold mining area.
Called Los Purgos, the property is accessible by bush road and is in an area which has been mined profitably for gold in the past, Chesbar reports. The two companies must pay US$250,000 plus 205,000 shares (125,000 Chesbar and 80,000 Spirit Lake) to acquire the private firm. Ownership will then be split 50-50 between Chesbar and Spirit Lake.
The partners also report that exploration has begun on their La Salle concession, near Anaco in northern Venezuela.
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