A subsidiary of Vancouver-based Ace Development (AE-V) has signed an agreement allowing Johannesburg Consolidated International (JCI) to earn up to a 60% interest in the company’s Oboum licence in Ghana.
To earn its interest, the South African company must make payments of US$3.5 million. Previous work at Oboum identified three anomalous gold zones with a combined strike length of more than 10 km.
One of the zones is an open-ended anomaly measuring 1.75 km in length. It lies on the contact between the Lower and Upper Birimian rocks.
JCI is expanding the soil-sampling grid to cover the entire property. Testing of the anomalous gold zones is expected to begin in February.
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