Rio Tinto Farm-in Might Total $60M in Citadel Project Spending

Rio Tinto Exploration has signed a farm-in agreement with Antipa Minerals to acquire up to a 75% interest in Antipa’s Citadel project in northern Western Australia. The agreement calls for four stages of development, which, if fully realized, would involve total expenditures of $60 million by Rio Tinto Exploration, which is a wholly owned subsidiary of Rio Tinto Plc.

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Agnico Eagle Has 10 Rigs Turning at El Barqueño

Agnico Eagle has reported positive drill results to the end of August from its 100% owned El Barqueño gold project in Jalisco state, west-central Mexico. From January to the end of August, 148 holes (35,646 m) were drilled at El Barqueño to define the limits of the Azteca-Zapoteca, Angostura, and Peña de Oro prospects and to explore for additional mineralized structures and extensions. As of September 21, 10 drill rigs were turning on the project.

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Oban Mining Leads Consolidation of Five Canadian Junior Companies

Oban Mining announced on June 9 the signing of binding letter agreements supporting share-exchange takeover bids by Oban of four Canadian junior gold exploration companies: Eagle Hill Exploration, Temex Resources, Ryan Gold and Corona Gold. Oban anticipated that completion of the transactions will create a leading Canadian gold exploration and development company, to be called New Oban, with major exploration assets in Ontario and Quebec.

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