LATIN AMERICA ROUNDUP — Barrick options Bolivian property

Senior gold producer American Barrick Resources (TSE) will finance US$2.5 million of exploration at the Escala project in southern Bolivia.

Australian junior Austpac Gold owns the property, where, over the next six months, US$1.5 million will be spent on drilling. The remaining US$1 million will be spent within 18 months.

Barrick can earn a 51% equity interest by funding exploration and development and by providing a feasibility study. Austpac will then hold a 29.6% interest with the Bolivian government holding 12% and another Bolivian partner holding the remaining 7.4%