Eden Roc boosts land position in Ivory Coast

An additional 272 square miles of land have been secured by Eden Roc Mineral (TSE), surrounding the gold-producer’s existing exploitation permits in Ivory Coast, West Africa.

The company has increased its land, adjacent to the Ghana border, to 320 square miles.

“In consideration for this acreage, which is contiguous to Eden Roc’s current producing mine, Eden Roc has committed to a $1,815,000 investment toward developing the property during the next three years,” Chairman Harry Quint says.

Eden Roc plans at least 20,000 ft. of drilling to confirm open-pitable tonnages and potential continuity to depth of seven additional zones. The company expects gold output in 1993 from its Ivory Coast holdings in 1993 to be about 30,000 oz.

Eden Roc’s partner in Ivory Coast is state-owned SODEMI. Eden Roc owns 68% of the SOMIAF joint venture and acts as project operator, with SODEMI owning the balance.

Marshall Minerals (ASE), which owns half of Eden Roc and which has a management agreement with its subsidiary, is to explore a 550-square-mile concession in Ivory Coast adjacent to Eden Roc’s ground.

To maintain its exploration permit in good standing, Marshall must spend $750,000 in the next three years.