Deals this week: Apollo Minerals, Erdene Resource Development, Wolf Resource Development

12 February 2015 (Last Updated February 12th, 2015 18:30)

Apollo Minerals has announced the acquisition of a 70% interest in the Orpheus Base Metals JV project in the Fraser Range nickel province in south-eastern Western Australia.

Mining Deals

Apollo Minerals has announced the acquisition of a 70% interest in the Orpheus Base Metals JV project in the Fraser Range nickel province in south-eastern Western Australia.

The company plans to enter into the JV agreement with Enterprise Metals to prospect for major nickel and base metal deposits in the project area.

The project covers 600km² across four tenements in the area of the Fraser Range province.

Drilling will take place after the deal's finalisation, which will be conducted in the company's 2015 field season.

Erdene Resource Development has granted Tian Poh Resources a period of exclusivity to exercise the option to acquire an interest in Erdene's Zuun Mod molybdenum-copper project, which is located in south-west Mongolia.

Under the option, Tian Poh can acquire and retain a 51% interest in the project for $4.8m cash as well as equity in Tian Poh.

The transaction is subject to approval from the Toronto Stock Exchange, the Australian Stock Exchange and Tian Poh shareholders.

Wolf Resource Development's wholly owned subsidiary Fura de Colombia has signed an agreement to acquire a 100% interest in a Colombian emerald exploration concession from Hector Andres Paez Rojas, Hector Obando, Hector Oliver Obando and John Lenoir Obando Sanchez.

The acquisition is subject to regulatory approval.

The ECH-121 emerald exploration concession contract is said to be a grassroots emerald licence located in the Boyacá region in Central Colombia. The licence covers an area of 649ha and 1793m and the mineral granted under concession is emeralds.

Subject to various conditions, the transaction is expected to be completed on or before 15 April.

Candente Gold has received an expression of interest (EOI) for a proposed processing agreement for the Mexico Mine Tailings Reprocessing Operation, which is planned at El Oro, Mexico.

The company received the EOI from Minera Arcu, which has extensive experience and technical expertise in developing and operating tailings reprocessing projects in Mexico.

Minera Arcu intends to invest capital required in respect of the acquisition and installation of equipment related to testing, as well as operating of the mineral concentration and recovery processes for the tailings.

Tarsis Resources and Estrella Gold have agreed to combine to form Alianza Resources, which will be a prospect generator focused on the Americas.

The company will have four projects in Peru, ten in Nevada, three in Mexico and five in Yukon, and the flexibility to acquire new projects in the Americas as opportunities arise.

The parties have entered into an arrangement agreement pursuant to which Tarsis will acquire Estrella's shares on a one for one basis.


Image: Several companies have signed deals this week. Photo: courtesy of stockimages/ FreeDigitalPhotos.net.