Partners Condor International Resources (VSE) and Spire Ventures (VSE) will acquire an 85% interest in the Sokan gold project on the Indonesian island of Kalimantan.
Each company will issue US$350,000 worth of shares and pay US$150,000 to the vendor, Jakarta-based Pt. Senuang Khatulistiwa Mining, which will retain a 15% interest until a feasibility study is completed.
The project area centres on alluvial gold workings and includes a contract of work covering 30,000 hectares on the watershed between West and Central Kalimantan, as well as an application for an additional 70,000 hectares of prospective ground.
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