AMI Resources Reports that Newmont Terminates Option on Anuoro License

By Midnight Trader,  August 17, 2012, 03:03:24 PM EDT

AMI Resources Inc. (AMU.V) has received from Newmont Ghana Gold Limited a Notice of Termination of the Option Agreement to earn an interest in the Anuoro prospecting license in Ghana. Under the agreement, Newmont Ghana will provide the Company with a final data package of all their exploration programs on Anuoro.

The majority of Newmont's work was concentrated in the northern portion of the Anuoro license, which they hoped would indicate a broad potential economic mineralization capable of producing low bulk tonnage for heap leaching. Several other targets have been generated across the entire project by Newmont and AMI, which are yet to be drill tested.

The 65 square kilometers Anuoro concession is located on the Ashanti greenstone belt; the most prolific of the Ghanaian greenstone belts about 8 kilometers south west of the Konongo mine. It covers about 10 kilometers strike of the Ashanti structure and is composed of complex lithological units. In June 2012, the license was renewed for a two-year period and further extensions are available under the mining laws.

With AMI now having 100% control of the operations, AMI will evaluate all the data and prepare its next phase of exploration.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks:



Latest News Video

Tutu Scoops Templeton Prize
Tutu Scoops Templeton Prize         
Death at Notre Dame
Death at Notre Dame                 


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.44 0.07  0.52%
F $ 14.95 0.10  0.66%
CLWR $ 3.40 0.14  4.29%
SIRI $ 3.515 0.02  0.43%
MSFT $ 34.85 0.23  0.66%
CSCO $ 24.01 0.07  0.27%
MRK $ 47.33 2.12  4.69%
PFE $ 28.78 0.08  0.28%