UBK Resources has entered into a share exchange agreement with UBK Resources S.R.L. Bolivia to jointly explore and develop natural resources in Bolivia, including gold, silver, manganese, zircon, and natural gas.
In the coming weeks the merged firm will start a planned development and production phase on projects that have completed exploration and evaluation phases.
The projects include a gold dust mine in provincial Antonio Larecaja, which has encountered a minimum of 39,485lb of gold dust through initial drilling and sampling.
The firm will also develop the manganese mine located in Virgen de Copacabana, which contains a minimum of 3.8Mt of manganese, and construct a manganese smelting plant to produce manganese metal.