Ariana Resources PLC (AIM:AAU) said its 75%-owned subsidiary Western Tethyan Resources (WTR) has signed an earn-in agreement for the Slivova gold project in Kosovo with TSX-V-listed Avrupa Minerals.
WTR can earn-in up to 75% of the project within the next three years by committing up to €1.8mln in funding, which can rise to 100% ownership ultimately if Avrupa does not fund any mine construction costs if it gets to that point.
Kerim Sener, Ariana’s managing director, said: “We are already nearing completion of a revised mineral resource estimate for Slivova."