Siga Resources and Big Rock Resources have entered into an agreement to develop the Lucky Thirteen gold placer in the Canadian province of British Columbia.
The companies will form a 50/50 joint venture, to be called Lucky 13 Mining Co, to operate the project.
Big Rock Resources will fund the initial evaluation program for $400,000 and provide funding up to $8.5m to place the property in full production.
Initial operating permits for necessary rail crossing and initial test mining have already been secured by Siga.
Siga is currently constructing the washing and initial process plant to be used in the evaluation program.
Siga president Ed Morrow said that the combined power of the partnership will facilitate the rapid development of a production operation at Lucky Thirteen.