Kinross Gold Corp
Canadian Shield and Kinross to team up for exploration in Peru
Canadian Shield Resources Ltd (TSX-V: EXP) said it has signed a letter of intent with Kinross Gold Corp (TSX: K; NYSE: KGC) to form an exploration alliance for Peru.
Kinross will fund US$500,000 in the generative program over a 12 month period and Canadian Shield will be the initial operator of the exploration programs.
Canadian Shield will provide local expertise and exclusive access to a proprietary database built by Gallant Minerals Peru Ltd SA, a private exploration company Canadian Shield acquired 90 percent of in 2004. The digitized database comprises a comprehensive compilation of both public and confidential information, and includes dozens of identified targets, many of which have yet to be field checked.
Canadian Shield and Kinross may form a joint venture in respect of any exploration project identified under the alliance and subsequently staked, optioned or acquired. Each JV will be initially owned 50 percent by Kinross and 50 percent by Canadian Shield. Kinross will have the option to earn an additional 25 percent participating interest in a project by spending a pre-determined amount over a two year period.
Other Kinross Gold Corp articles
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03/08/10 Red Back Acquisition Makes Kinross World’s Fourth Largest Gold Producer
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13/08/09 Kinross Gold trims gold production guidance for 2009
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24/07/09 Kinross Gold in heavy demand
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08/01/09 Kinross Gold confirms 2008, 2009 production forecasts
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20/11/08 Kinross Gold to take full control of Lobo-Marte gold project in Chile for US$250 million
Other Kinross Gold Corp news
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05/05/10 Kinross Gold invests $600 million in Red Back Mining
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27/04/10 Kinross acquires Underworld Resources
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06/04/10 Millrock and Kinross in agreement over Alaskan mining properties, drilling set for July 2010
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11/03/10 Kinross Gold Corp to fully acquire Underworld Resources at 36% premium
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18/02/10 Kinross sells 25% stake in Cerro Casale to Barrick for $475 million
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29/01/10 Kinross Gold total proven and probable reserves hit 51 million ounces
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21/01/10 Kinross Gold shells out $368 million in cash and shares for two gold projects in Russia
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15/01/10 Kinross production to slip to 2.2 million gold equivalent ounces in 2010
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08/12/09 Full Metal Minerals and Kinross hit High Grade Gold-Silver-Copper At Russian Mountain
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03/11/09 Kinross Gold third quarter production up 26% for first 9 months of this year
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