Tawana has paid GMI an initial exclusivity option fee to get binding exclusivity and exclusive rights to due diligence over what Tawana has described as GMI’s ‘highly prospective ground in Liberia’.
Last week, Tawana said that the Sinoe Project area is characterized by numerous artisanal gold workings observed in the field during recent site due diligence activities.
According to the company, the area is characterized by numerous quartzite, graphite and manganese occurrences on the USGS geological map of Liberia all of which favorably indicate gold prospectivity.
Under the agreement, GMI, in association with Kiwi, will participate and assist Tawana in the development and operation of the Sinoe Project, retain and independently develop certain identified gold mining sites within the project and continue to pursue its current and planned gold dredging operations in its concession areas.
