This field currently hosts more than four billion tons of inferred and indicated resources.
Elemental Gold stated that under the terms of the option agreements, Elemental Gold will spend up to A$5.50m ($5.81m) and make cash / share payments of A$0.80m ($0.85m) to earn up to 55% of the Dondoroma and Roporaque Projects thorough a two stage farm in.
Elemental Gold will begin its maiden drill campaign at Dondoroma and Roporaque commencing in May/ June 2012.
Elemental Gold’s report went on to say that Multiple drill ready targets have been defined at the prospects following recent reconnaissance exploration, reports Proactive Investors. The projects are located adjacent to existing mining operations, which could provide a treatment option in the event of future project developments. RM Research is maintaining a speculative buy on AXG Mining before the company begins exploration activity in mid 2012.
Peru's copper production scheduled to increase to more than 2.0 million tons per annum by 2015. The nation is the second ranked copper producer in the world behind Chile and fourth in terms of molybdenum production.
About Elemental Gold: http://www.elementalgold.com/
Elemental Gold is a precious metal exploration company which is focused upon enhancing shareholder value and maintaining strong partnerships with stakeholders to discover and produce gold and platinum group metals in an ethical and responsible way.
Elemental Gold’s management team is highly experienced, which provides an operational advantage over other precious metal exploration companies. We combine this experience with a passion for developing, understanding and leveraging upon new technologies and techniques, which increase our production and reduce costs throughout our operations.
Elemental Gold’s mission is to discover, exploit and replace precious metal resources which provide high levels of returns for our shareholders. Elemental Gold is continually seeking to pursue opportunities for development whilst exploiting the full value of Elemental Gold’s existing resources. Our aim is to repeatedly build a solid balance sheet and generate high levels of income at high margins.
Elemental Gold combines our shareholder driven approach with a strong commitment to delivering education, healthcare, social and economic advancement within the communities where we work, with a focus on protecting the environment through a socially responsible approach to mineral exploration. We understand the impact of our work can be immensely positive for the communities and the environment where we work, as well as for our shareholders.