A recent option agreement sets the stage for World Wide Minerals (TSE) to earn a 50% interest in the Peggy property from AG Armeno Mines & Minerals (VSE).
Situated in south-central Ecuador, the Peggy property comprises an area of 4,600 hectares and covers a porphyry-type copper-gold target. Anomalous geochemical values are scattered throughout a large stockwork zone in the northern part of the property.
To earn its interest, World Wide is required to spend US$500,000 on exploration, issue 200,000 common shares and make cash payments totalling US$25,000. Upon earning in, World Wide can elect to purchase the remaining half interest for an additional US$2.5 million.
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