Canada-based junior explorer Barsele is continuing to work with Agnico Eagle Mines to complete definitive agreements to consolidate its interest in the Barsele project, in Sweden.
The company, which is managed by the Belcarra Group, has extended the letter of intent (LoI) date to acquire Agnico Eagle’s indirect 55% interest in the Barsele project.
Barsele currently holds 45% in the project and upon completion of the transaction will own 100%.
The ‘outside date’ of the LoI has been extended to August 31.
The Barsele project is located on the western end of the proterozoic "Skellefte Trend", a prolific volcanogenic massive sulphide deposits belt that intersects with the "Gold Line" in Northern Sweden. Both polymetallic deposits and intrusive hosted orogenic gold deposits are present in this region and on the property.