The license, which covers the entire 55.17km2 holdings, was given by the Ministry of Mines and Mineral Resources in Sierra Leone, allowing Oraco to undertake geophysical studies and artisanal mining for exploration.
Oraco president Brad Rosen said that the license also allows the company to finalize agreements with SRK and conduct studies in Nimini Hills.
"We have been anxiously waiting for the permission to finally assay the area. We are very anxious to see whether, as we believe, the exploration process will indicate that our Nimini Hills holdings have the potential to be as prolific as the surrounding operations seem to be, rich in natural resources of diamonds and gold," Rosen added.
Oraco VP Chris Butchko noted that the company is coordinating logistics for both geophysical studies as well as artisanal work.
