HALIFAX-Based Junior Miner Etruscan Resources Inc. and Haber Mining Ghana Ltd. have agreed to form a joint venture to explore 1,331 square kilometres of gold concessions in southern part of the Western Region of Ghana.
Etruscan Haber Joint Venture Ltd. will explore concessions in the Sefwi Volcanic Belt and the Kumasi Sedimentary Basin.
Haber, a Massachusetts-based company with proprietary technology for the environmentally friendly processing of gold-bearing ores, has received about $700,000 (U.S.) from Etruscan.
Etruscan has an option to increase its interest to 75 per cent by investing $2.5 million dollars over three years, in which case Haber must spend one dollar for every three spent by Etruscan to maintain a 25 per cent interest.
If Haber's participating interest drops below 10 per cent, it will be converted to a 5 per cent net smelter return royalty.
allAfrica.com: Ghana: Etruscan And Haber to Seek Gold in Ghana (Page 1 of 1)
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