LAST BUT NOT LEAST — Monk acquires interest in gold play

Alberta-listed Monk Gold & Resources has acquired from DSE Resources a 27% interest in a placer gold operation in Western Argentina.

Monk will acquire its stake in the Cerro Mayal project for $3.2 million plus a non-refundable deposit of $100,000. DSE, which is privately owned, will retain a 5% net profits interest.

Production is scheduled to begin this month, with annual yields estimated at 28,000 oz. gold. A feasibility study indicates the property has proven and probable reserves of 380,000 oz. gold, with an additional 900,000 oz. in the probable category.

Cerro Mayal is in Neuquen province.

Sikaman Gold Resources (TSE) has a 27% interest in the project, and private company Aldermines International has a 46% stake.