LATIN AMERICA — Panamanian company Petaquilla partner

A private Panamanian company recently elected to participate as a 20% partner at the Petaquilla copper property being explored by Adrian Resources (VSE).

Adrian, as project operator, is earning 40% of Minnova’s (TSE) 80% interest in the property in the Republic of Panama. The underlying owner elected to participate as a 20% partner rather than revert to a 2% net smelter return royalty.

The Petaquilla property hosts preliminary reserves of 875.6 million tons grading 0.6% copper at a 0.3% copper cutoff grade.

A $2-million drill program will begin in mid-January to further test the Botija and Petaquilla deposits, both of which remain open to expansion.