Canada-based mineral exploration company Wesgold Minerals has entered into an agreement pursuant to which it may obtain a 51% stake in the Cordoba Property, Colombia, from Minatura International.

The 25,790ha property, is adjacent to the San Pedro River.

It comprises of one mining concession contract and several mining claims prospective for iron-oxide-copper-gold style mineral deposits.

Under the terms of the transaction, if the remaining stake in the property is not sold by Minatura, then both companies will form a 51:49 joint venture to further develop the site.