AROUND THE GLOBE — Canalaska grants option to Delgratia

An option to earn 80% of the El Pauji concession in Venezuela has been granted to Delgratia Developments (VSE) by Canalaska Resources (VSE).

The concession is about four kilometres south of Placer Dome’s Las Cristinas gold discoveries in the Kilometre 88 district.

To earn the interest, Delgratia must spend US$5 million over five years, pay Canalaska $75,000 and issue up to 200,000 shares in stages. The agreement is subject to a clear title transfer of the concession to Canalaska from the Venezuelan vendor.

Canalaska, as operator, plans to explore the concession’s potential for saprolitic gold mineralization as well as shear zone or stockwork gold mineralization beneath saprolitic occurrences.