10th Apr 2015 06:26
LONDON (Alliance News) - Acacia Mining PLC on Friday said it has signed a deal to expand its land holdings in the Houndé belt in Burkina Faso via two earn-in agreements.
The FTSE 250-listed miner has signed earn-in deals with Canyon Resources and Thor Explorations Ltd. The deal with Canyon will give Acacia a 75% earn-in interest in the Pinarello and Konkolikan projects, and the Thor deal will give it a 51% interest in the Central Houndé project.
Acacia said the deals have cost around USD1 million and are part of its USD20 million exploration budget for 2015.
"We are pleased to continue to expand our footprint in Burkina Faso, with the new agreements giving us further access to the most prospective trends within the Houndé belt, which is host to a number of high grade discoveries," said Acacia Chief Executive Brad Gordon.
By Sam Unsted; [email protected]; @SamUAtAlliance
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