Angkor Gold ends deal with miner Blue River
Angkor Gold ends deal with miner Blue River
Canadian mining firm Angkor Gold Corp has terminated its earn-in exploration agreement with Vancouver-based junior mining firm Blue River Resources Ltd, putting an end to the latter’s drilling on Angkor’s gold- and copper-rich Banlung Tenement, according to a statement released by Angkor yesterday.
This agreement and four other licences were each renewed and extended for three years by Angkor in March. Prior to the abrupt cancellation of the Blue River contract, Angkor had five exploration licences covering approximately 983 square kilometres of land in Cambodia.
Under the terms of the now-terminated contract, Blue River had committed to invest $3.5 million over a four-year period in exchange for up to 50 percent interest in the licence.
