Canadian mining firm RosCan Minerals has announced that it is set to expand its gold exploration in Western Africa, having entered into a letter of intent with Touba Mining to acquire the 56 sq km Kandiole-North region in west Mali.
The specific area that RosCan is targeting for its exploration is the Birmian rocks, known to be a very prospective area with a number of producing gold mines.
“We are continuing with our strategy to acquire high potential permits in an area of multi-million-ounce gold producers and existing deposits of west Mali,” said Greg Isenor, President and CEO of RosCan. “The objective is to assemble a substantial land package applying the approach that has been successfully used by our experienced acquisition team in the past. I look forward to assembling this land package over the coming months.”
The deal will see a series of six payments made to Touba, with an aggregate of CAD$80,000 over a three-year period.
Further, RosCan is looking to acquire additional properties within Mali in the aim of strengthening its foothold in the region.