Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Cassidy Gold Corp. (TSX VENTURE:CDX) recently received an exploitation permit covering all gold resources identified to-date at the company’s 100% owned Kouroussa Gold Project located in Guinea, West Africa. This permit runs through to October 14, 2019. The permit covers an area of 16 square kilometres within the company’s 949 square-kilometre exploration permits, which remain in good standing until September 29, 2012, subject to renewal provisions described in the Guinean Mines Code.
The latest resource statement for the Kouroussa Gold Project, announced in October 2008, highlighted an indicated resource of 680,000 ounces contained in 11,380,000 tonnes grading 1.9 g/t Au and an inferred resource of 363,000 ounces contained in 6,466,000 tonnes grading 1.7 g/t Au. Coffey Mining completed the resource estimate in accordance with Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects and the classifications adopted by CIM Council in December 2005.
