Novus Gold Corp.-Acquisiton Completed
April 03 2012 - 6:26PM
Marketwired Canada
PanTerra Gold Limited (ASX:PGI)(ABN: 48 008 031 034) (PanTerra Gold or the
"Company"), advises that it has completed the acquisition of Vancouver based
Novus Gold Corp. (TSX VENTURE:NOV) by the issue of 18,412,632 PGI shares to
Novus Gold shareholders (1 for 3).
PanTerra Gold has in effect acquired two exploration concessions in the
Dominican Republic held by a wholly-owned subsidiary of Novus Gold.
La Yagua
-- 9900ha concession along strike from Perilya's producing Cerro de Maimon
copper/gold mine
-- Preliminary exploration programs have identified significant
base/precious metals mineralisation in 5 targets, with grab samples
grading up to 18% Cu, 13g/t Au, and 29g/t Ag
-- Mineralisation is strata bound VMS type, same as Cerro de Maimon mine
-- Extension of previous soil sampling work to cover the whole concession
is justified
-- Drilling of first target 6 km long and open, expected in Q4/2012
La Paciencia
-- 8.600ha concession located 10 km east of the Pueblo Viejo gold deposit
(+25M oz) being developed by Barrick/Goldcorp
-- Underlain by same geology in Los Ranchos formation as Pueblo Viejo
-- Initial exploration will focus on soil sampling and geophysics to
identify drill targets
-- Prospecting to date has discovered elevated gold values along structural
lineaments
-- Any resource is expected to be predominantly refractory, and amenable to
treatment through PanTerra Gold's Las Lagunas Albion/CIL process plant
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