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Australian firms in JV for exploratory drilling

| Publication date 18 May 2016 | 07:14 ICT

Australian firms in JV for exploratory drilling

Renaissance Minerals and Emerald Resources finalised a joint venture agreement and commenced exploratory drilling near the Okvau gold deposit in Mondulkiri province.

The exploration is aimed at probing around the Okvau gold deposit to determine additional resources beyond the current 1.13 million ounce gold resource estimate, a press release stated.

Under the joint venture, Australia’s Emerald Resources stands to earn 51 per cent interest on the deposit while committing $3 million to fund a two-year exploration program.

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