Two Montreal-listed juniors — Fairstar Explorations and Nora Exploration — are acquiring a gold concession in Ghana, West Africa.
The 150-sq.-km Benso prospect is on the eastern side of the Ashanti Trend and hosts several prospects and abandoned mines.
Fairstar and Nora will form a 60-40 (respectively) joint venture, with the former serving as operator. The joint venture will spend US$1 million over three years, giving the two companies a combined 100% working interest, which is subject to a 15% net profits margin royalty.
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