Friday, 15th October 2004 (2664 views)

Sulliden Exploration has signed an agreement with Aruntani SAC for the Torrine gold project in Southern Peru.

The property is made up of a host of zones and has a similar set up to the Santa Rosa and Tucari gold mines owned by Aruntani, grab samples have already revealed gold and mercury content.

Jacques Trottier, president of Sulliden, commented: "This is an important step towards the development of mutual interests and expertise producing synergies between Aruntani and Sulliden

"The Aruntani system is on its way to becoming southern Peru's largest gold district and we believe there is excellent potential to discover similar deposits in this prolific system"

Under the agreement, Sulliden will be able to earn a 10 per cent interest in the project through various commitments and payments.

However, at present the transaction is subject to approval by the board of directors and relevant authorities.

Sulliden is focused on the development on gold interests in the Shahuindo project and Newmont's Yanacocha deposits.

 

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