Barramundi Gold signs joint venture with Normanday Mt Leyshon.
Barramundi Gold, a very ambicous jnr, trading on the Alberta Stock exchange (BAM), with properties on Australia and Yukon, has
recently signed a joint venture with Normandy Gold.
>>>> news release <<<<
Barramundi Gold Ltd. ("Barramundi") is pleased to announce that it has entered into an arms-length joint venture agreement with Normandy Mt. Leyshon Limited ("NML") for the exploration of Barramundi's 1,000 square kilometre Wandoo property in North Queensland, Australia. The agreement was entered into on behalf of Mangrove Jack Pty. Ltd., a 92% owned Barramundi subsidiary and holder of the Wandoo Option.
NML is a member of the Normandy Group and is Australia's largest gold producer, with annual production of 1.5 million ounces. NML is also the owner/operator of the Mt. Leyshon gold mine, also in North Queensland, which produces 200,000 ounces gold per annum. Barramundi's exploration work to date has identified several Mt. Leyshon style breccia pipe targets on the Wandoo property.
The Agreement allows NML to earn up to 70% interest in the property by incurring exploration expenditures of $2,500,000 over the four year term of the agreement, including $250,000 in the first six months.
NML will be the operator of the exploration program and has already mobilised a geological crew to the site. The joint venture will enable continued exploration of the Wandoo property and allow Barramundi to focus efforts on exploration of its Longline property in the Yukon Territory.
For more information please contact:
CANADA - HEAD OFFICE
John Haley, Director and CFO or,
Mr. Scott Broughton, P.Eng., President
Vancouver, Canada
(604) 681-7136 (phone)
(604) 681-7120 (fax)
AUSTRALIA
Mr. Bob Burban, Director of Exploration
Melbourne, Australia
011-61-39-606 0233 (phone)
011-61-39-606-0393 (fax)
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
>>>>>>>> End <<<<<<<<
web site: barramundi.com for details.
There has also been a large recent injection of private capital into the company, so things seem to be heating up. |
