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July 16, 2015

Deals this week: Lake Shore Gold, Erdene Resource, Arena Minerals

Lake Shore Gold has submitted a binding proposal to Temex Resources for the acquisition of all of the common shares of Temex.

Lake Shore Gold has submitted a binding proposal to Temex Resources for the acquisition of all of the common shares of Temex.

Under the terms of the proposal, Temex shareholders would receive 0.105 of a Lake Shore Gold share.

Temex holds a 60% interest in a joint venture with Goldcorp Canada on the Whitney property located adjacent to Lake Shore Gold’s Bell Creek Mine and Mill.

Erdene Resource Development has amended its option agreement with Tian Poh Resources.

Tian Poh has been granted a six-month extension, until 9 December 2015, to exercise its option to acquire an interest in Erdene’s Zuun Mod mining license in southwest Mongolia.

As consideration for the extension, Tian Poh is required to complete a minimum of 1,000m drilling on the property by 30 October 2015.

Arena Minerals has signed a binding agreement with Japan Oil, Gas and Metals (JOGMEC), giving it the option to acquire up to 60% interest in 10,000ha to be selected from 30,000ha of the company’s Atacama Copper Property in Antofagasta, Chile.

JOGMEC has to spend a minimum of $16m on the property in two stages over a six year period to exercise the option and acquire a 60% interest in it.

The properties are located between the Cerro Barco and La Paloma properties, consisting of three separate claim blocks.

Noricum Gold has acquired a 50% interest in the 861km² Bolnisi project in Georgia.

The project contains multiple, large copper and gold non-JORC resources.

Total mineral resources for the overall project area are both significant and scalable.

Dajin Resources‘ wholly owned subsidiary Dajin Resources has signed an agreement with the Cooperativa de Trabajo Minero Producción de Boratos Jujeños.

The cooperative holds the mining rights to two properties in the south-east part of Salinas Grandes.

The agreement has a payment of $60,000, which gives Dajin the exclusive right to explore the property during the term of three years.

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