Just months after Mazarin Mining (MAZ-T) announced that it would shift its focus back to industrial minerals, the company has found a buyer for its gold properties in Hebron Fjord Resources (HEF-M).
In exchange for acquiring projects in Peru, Haiti and Uzbekistan, Hebron Fjord will issue to Mazarin 500,000 shares and a 3-year option for an additional 500,000 shares at 40 cents each. At press time, Hebron shares were trading at 31 cents, making the deal potentially worth $355,000.
Hebron’s newly acquired properties include:
* Torrecillas — The 32-sq.-km Peruvian property is said to be situated in the same geologic setting as the Salaverry-Copara property, in which Hebron holds a majority interest. Gold mineralization is associated with silicified and argilitized zones that contain mineralized fractures with quartz and sulphides. A small-scale operation on the property is exploiting a gold-bearing, semi-massive sulphide zone;
* Haitian permits — These permits, numbered 1 through 10, cover a total of 950 sq. km. They host what Mazarin considers two possible porphyry copper systems. Hebron will determine drill targets in the next few months; and * Tandyr — This property, which covers 620 sq. km in Uzbekistan, is said to have a stratigraphy similar to that of the Murantau deposit, which is operated by Newmont Mining and the Uzbekistani government.
Be the first to comment on "Hebron picks up gold properties"