VANCOUVER (miningweekly.com) – About a year-and-a-half after signing a definitive option agreement, TSX-V-listed Samco Gold and Pan American Silver (PAS) set September 1 as the effective date of the agreement.
The agreement grants PAS the exclusive option to acquire a 60% interest in the El Dorado Monserrat (EDM) project in Santa Cruz, Argentina.
The companies advised Friday that the effective date of the option agreement had been delayed by the parties, pending resolution by Samco of the litigation commenced by Yamana Gold, which referenced EDM. This litigation was subsequently settled and was against Samco and its local subsidiary in May.
Samco and PAS advised that they now wished to start the option agreement and related exploration work on EDM.