AAP
Gold and base metals explorer Southern Gold Ltd is bound for Cambodia, after signing an agreement with the Cambodian government covering 959 square kilometres of acreage.
Southern Gold, a miner of gold, copper and nickel, signed a memorandum of understanding to cover the acreage, enclosed within four tenements in the Kratie and Mondulkiri provinces in the country's east.
"We plan an aggressive exploration program in Cambodia, but without reducing activity on our Australian projects," chairman Ric Horn said.
The miner has projects in the Gawler Craton region of South Australia, the Eastern Goldfields of Western Australia and the Lachlan Fold Belt in New South Wales.
"Our exploration objective is the discovery of world-class deposits of gold and base metals of the magnitude of Chatree and Sepon in neighbouring Thailand and Laos," Mr Horn added.
The four blocks have returned sample assays showing values of up to 34 grams a tonne for gold, 3 per cent copper, 20 per cent lead and 18 per cent zinc.
The terms of the agreement will allow a six-month window for early stage exploration activities and negotiation for terms of subsequent exploration, development and exploration including royalties from any discovery.
First work will include low impact exploration activities for target definition and negotiations for exploration licenses.
At 1245 AEST Southern Gold's shares were down half a cent at 54 cents.
Southern Gold, a miner of gold, copper and nickel, signed a memorandum of understanding to cover the acreage, enclosed within four tenements in the Kratie and Mondulkiri provinces in the country's east.
"We plan an aggressive exploration program in Cambodia, but without reducing activity on our Australian projects," chairman Ric Horn said.
The miner has projects in the Gawler Craton region of South Australia, the Eastern Goldfields of Western Australia and the Lachlan Fold Belt in New South Wales.
"Our exploration objective is the discovery of world-class deposits of gold and base metals of the magnitude of Chatree and Sepon in neighbouring Thailand and Laos," Mr Horn added.
The four blocks have returned sample assays showing values of up to 34 grams a tonne for gold, 3 per cent copper, 20 per cent lead and 18 per cent zinc.
The terms of the agreement will allow a six-month window for early stage exploration activities and negotiation for terms of subsequent exploration, development and exploration including royalties from any discovery.
First work will include low impact exploration activities for target definition and negotiations for exploration licenses.
At 1245 AEST Southern Gold's shares were down half a cent at 54 cents.
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