Marmota and Ramelius in Agreement for Nevada Gold Projects

31 August 2009 (Last Updated August 31st, 2009 18:30)

Australia's uranium explorer Marmota Energy has entered into an agreement for project generation with Ramelius Resources in gold fields located in the US state of Nevada. Marmota will have the right to acquire 40% of interest in any gold projects sourced by Ramelius under the terms of

Australia's uranium explorer Marmota Energy has entered into an agreement for project generation with Ramelius Resources in gold fields located in the US state of Nevada.

Marmota will have the right to acquire 40% of interest in any gold projects sourced by Ramelius under the terms of the agreement.

The deal is in line with Marmota's strategy of acquiring advanced projects or a known resource with significant expansion potential, located in established mining provinces, the company said.

Nevada is a major gold mining centre in the US, with about 5.7 million ounces of mined gold in 2008.

The alliance will offer Marmota’s shareholders exposure to projects with high gold potential in a region of proven high grade, large tonnage mine capability, the company said.