Vital Metals
Vital Metals enters into farm-in agreement with Ampella Mining
Perth-based explorer Vital Metals (ASX: VML) has entered into a farm-in agreement for Ampella Mining's Doulnia/Campala project in Burkina Faso.
The company can earn a stake of up to 80 per cent in the Doulnia / Campala property, where an initial evaluation program by Ampella encountered widespread gold mineralisation when the company was exploring for zinc in 2007-2008.
Following completion of evaluation work, Vital may elect to withdraw or earn equity in three stages.
Vital will earn a 60% equity by sole funding A$1.5 million of exploration expenditure. The company can increase its equity to 70% by sole funding the next A$2 million expenditure and may increase to 80% equity by carrying the project to completion of a pre-feasibility study.
Other Vital Metals articles
Other Vital Metals news
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25/02/10 Vital Metals remains focused on West African gold
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21/01/10 Vital Metals to raise $2.4m to fund West African gold project
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16/12/09 Vital Metals Hits High Grade Gold at Doulnia in West Africa
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19/11/09 Vital Metals Embarks on Major Gold Exploration Program in West Africa
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