Robex to explore in Niger

Montreal-based Robex Resources (RBX-M) will explore for gold in northern Niger, West Africa.

A deal inked with privately held GeoAfrica Gold enables Robex to gain up to an 38.3% interest in four properties held by GeoAfrica by spending up to $382,500 on exploration. Robex can acquire an initial 10% in all four by spending $95,000.

Exploration will focus on the 1,925-sq.-km Tafassasset North permit, which covers the southerly extension of the Tiririne-Hanane gold vein deposits in neighbouring Algeria.

Robex has raised $174,000 by in a private placement of 858,300 units priced at 20.3 cents each. A unit consists of one share plus a share-purchase warrant exercisable at 26.3 cents over 18 months.

GeoAfrica is a privately held junior controlled by Australian-based European Pacific Group.