Burey Withdraws from Jailor Bore Acquisition

18 August 2009 (Last Updated August 18th, 2009 18:30)

Burey Gold has said it will not go ahead with an option agreement to acquire a 90% interest in uranium property Jailor Bore located in the Canarvon Basin, Western Australia. The company has decided to withdraw from the option agreement in order to focus on its gold and uranium assets

Burey Gold has said it will not go ahead with an option agreement to acquire a 90% interest in uranium property Jailor Bore located in the Canarvon Basin, Western Australia.

The company has decided to withdraw from the option agreement in order to focus on its gold and uranium assets in Guinea in West Africa.

The decision was made as the West African portfolio offers by far the greatest potential to add shareholder value, the company said.

Burey has extended drill testing of known mineralisation at the Mansounia gold project and is conducting field mapping and sampling activities on its other prospective gold and uranium properties in Guinea.