PERTH (miningweekly.com) – ASX-listed junior Titan Minerals could potentially acquire an 85% interest in the Las Antas gold project, in Peru, after negotiations with a private Peruvian company.
Subject to the execution of a formal binding earn-in agreement, Titan could earn an initial 60% interest in the project by spending $2-million in exploration over a two-year period, and by paying the vendor $450 000.
On the delivery of a sole-funded feasibility study, Titan would take its interest in Las Antas from 60% to 70%. The company will be granted the option to acquire an additional 15% ownership in the project through staged earn-ins totalling $2.5-million.
Las Antas is 80 km east of Peru’s PanAmerican highway, and well within trucking distance of Titan’s Tulin and Vista gold processing facility. The project has an extensive zone of intense hydrothermal alterations at surface, and has been subject to early state exploration through to 1998, before exploration ceased.