The mining lease is located in the Amansie East and Asante Akim South Districts of the prospective Ashanti Region of Ghana.
This is a ten-year renewable mining lease for gold and associated minerals, granted by the Government of Ghana, over an area of approximately 29 square kilometers.
The lease is held subject to a 10% carried interest owned by the Government of Ghana, and Gulf Coast Resources is entitled to get a net smelter royalty of 1.5% of gold sold.
Goldplat CEO Demetri Manolis said that the Banka mining lease represents a substantial gold prospect in the Ashanti Region of Ghana, a prime district for gold project development.
"Work completed to date indicates the prospectivity of the license area and we plan to establish a JORC compliant resource, and ultimately commence a significant mining operation," Manolis said.
