News ReleaseLooks as if this JV will work out ... this should give a boost to the SP ... not sure weather I wish to give up 75% ... Liontown has the resources behind it and an experienced management team ... I was at the conference in Vancouver and saw what other companies in Tanzania have done to develope their properties and it is easier their (because of the laws) to develope ... a couple of other companies already have working mines in the area and seem to be doing well ... hope it rubs off on us
Currie Rose Resources is pleased to announce it has entered into a joint venture agreement with Australian-based Liontown Resources Limited (ASX:LTR - News) to develop Currie Rose's Jubilee Reef Gold Project in northwest Tanzania. Jubilee Reef is located along the same Archaean greenstone-granite terrain that hosts a number of world class gold deposits.
The agreement allows Liontown Resources to earn as much as a 75% interest in the project by completing a definitive feasibility study. Liontown can first earn a 51% interest by drilling a minimum of 5,000 metres at Jubilee this year (scheduled to commence in the second quarter) and an additional 10,000 metres by no later than December 31, 2013. Liontown must spend a minimum $50,000 on a four-month data review for drill target definition.