Deals this week: Haranga Resources, Alpha Exploration, Evrim Resources and more

16 January 2014 (Last Updated January 16th, 2014 18:30)

Haranga Resources has inked a pre-mining agreement with the Mineral Resource Authority of Mongolia for its 80%-owned Selenge Iron Ore project.

Haranga Resources has inked a pre-mining agreement with the Mineral Resource Authority of Mongolia for its 80%-owned Selenge Iron Ore project.

The project is located in Mongolia's premier iron-ore development region of Darkhan Selenge with access to the main trans-Mongolian Rail line and nearby spurs.

Under the terms of the agreement, Haranga will have to finish and submit a feasibility study, mine design, and finally construction of a mine.

Selenge mine, which is made up of the Bayantsogt, Dund Bulag and Undur Ukhaa deposits, hosts a JORC Resource of 254 million tonnes at 17.2% iron, making it the leading JORC iron-ore resource in Mongolia.

Alpha Exploration has entered into an option agreement to acquire a 60% interest in with Noka Resources' Carpenter Lake property located along the Cable Bay Shear Zone, in the south-central rim of the Athabasca basin in Northern Saskatchewan, Canada.

Under the agreement, Alpha can acquire a 60% interest in the property by paying a total of $50,000, issuing 400,000 shares and completing work of $1,250,000 over a period of three years.

Following the completion of the agreement, a joint venture will be established between Alpha (60%) and Noka (40%) for the further development of the property, with Alpha serving as the operator.

Property work will involve airborne VTEM and magnetic surveys, as well as sampling for radon in lake water and sediments.

Starting from approximately 1km, the property covers the CBSZ south from the south edge of the Athabasca basin.

The property has one of the strongest uranium in lake sediment values in the area at 89.5ppm uranium and associated relatively large uranium equivalent radiometric airborne anomaly, which are situated favourably down-ice from the CBSZ.

Evrim Resources has signed a five-year option agreement with SilverCrest Mines to acquire a 100% interest in the company's Ermitaño property in the State of Sonora, Mexico, adjacent to SilverCrest's mine operations at Santa Elena.

Under the terms of the agreement, SilverCrest can earn a 100% interest in the Ermitaño property by paying $75,000 upon signing the agreement and a further $50,000 each year thereafter, completing a minimum of $500,000 in exploration expenditures in the first year and delivering a production notice specifying mine and construction plans with accompanying permits

The Ermitaño property consists of two concessions (I and II) totalling 165km² of contiguous mineral tenure located approximately 145km from Hermosillo and immediately adjacent to SilverCrest's Santa Elena Mine in Sonora, Mexico.

The Ermitaño I and II concessions are located along the same trend of mineralisation currently being exploited at the Santa Elena Mine.

Saint Jean Carbon has closed an arm's length transaction to acquire the Wallingford and Saint Jovite lump graphite properties.

Following the transaction, the company issued 1,000,000 shares as partial consideration for the Wallingford Property and 1,000,000 shares as partial consideration for the St. Jovite Property, at a deemed value of $0.06 per share.

The Wallingford property is located 10km north of Buckingham village in the Central Metasedimentary Belt of the Grenville geological province, and includes the historic Wallingford-Buckingham mine and a feldspar and quartz pegmatite dyke, which cross cuts a sillimanite-garnet gneiss.

The St. Jovite property is situated 8.5km south-south-east of the village of Brebeuf in the Laurentian region, approximately 153km north-west of Montreal.

EastCoal and its wholly-owned incorporated subsidiary, Gramsico Holdings, has entered into share purchase agreements with Austrian-based company EFI Holding GmbH. EFI will acquire all of the company's 0.1% shareholding and all of Gramsico's 99.9% shareholding in East Coal Company (ECC) for $499,000.

On 10 January, the company and Gramsico also entered into share purchase agreements with EFI, pursuant to which EFI will acquire all of the company's 0.1% shareholding and all of Gramsico's 99.9% shareholding in Ukraine Energy for $1,000.

ECC and Ukraine Energy are Ukrainian incorporated companies that are indirectly wholly-owned by Gramsico.

ECC holds the assets relating to the company's material project, the Verticalnaya mine.

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