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Cooperative Joint Ventures and Evaluations
USGS Report - Carlin-type Gold Deposit Potential in Guangxi Province
Project Information > Cooperative Joint Ventures and Evaluations

Caledon Resources - Chenghua Industrial Corporation Ltd - Co-operative Joint Venture

In August, 2004, Caledon Resources PLC (�Caledon�)  announced the signing of a Cooperative Joint Venture (�CJV�) agreement with China�s Chenghua Industrial Corporation Limited (�Chenghua�). Based in Beijing, Chenghua is a large industrial group with diverse ownership interests in several sectors including mining, chemical production and property development. Chenghua has access to over twenty advanced exploration and mining projects throughout China. These projects are the subject of the CJV on which Caledon�s team is currently conducting due diligence and evaluation work.

Under the terms of the agreement, Caledon has a right to 80% of the CJV with Chenghua retaining a 20% interest, of which 10% is contributing. Once finalised, the company holding the rights to the CJV will explore on defined projects introduced by Chenghua.

George Salamis, Managing Director of Caledon Resources reports: �Senior management of Chenghua are highly experienced, key players in China�s mineral industry. Caledon�s alliance with this group is an additional step in becoming one of the lead players in China�s resurging mineral exploration industry�.

Caledon Resources - Geological Survey of Guangxi - Co-operative Joint Venture

Caledon Resources PLC recently signed a Letter of Intent (LOI) with the Geological Survey of Guangxi (GSG). Under the terms of the LOI, Blackwatch Resources can earn an 85% equity position in several promising gold districts in the province through the expenditure of US$1 million over three years. This agreement is significant given the GSG�s access to a wealth of granted exploration and mining tenements throughout the province. The GSG also has a highly qualified team of exploration and mining personnel who will be assisting with Caledon�s data compilation and field exploration programmes. Caledon geologists are currently evaluating selected areas in the overall package that has been offered by the GSG.

The areas highlighted by the red stars (Landsat overlay) represent tenements (mining and exploration) owned by the GSG in Guangxi Province. Caledon Resources is currently conducting due diligence regarding the gold potential of these tenements. Only about 50% of the GSG ground is represented on this map.

 

 

 
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