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Article: Mexico : Savant Receives Regulatory Approval of Grant of Option to Selwyn on Vinata Property in Mexico and Begins Exploration of Property.
- Article from:
- TendersInfo
- Article date:
- August 13, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Savant Explorations Ltd. (TSX VENTURE:SVT) ("Savant") is pleased to announce that it has received final regulatory approval of the previously announced (July 22nd) option grant to Selwyn Resources Ltd on the Vinata Property in Mexico. The acquisition agreement grants Selwyn an option to acquire an initial 50% interest in the Vinata Property and upon exercising that option, an option for Selwyn to increase its interest to 55% by making additional expenditures. Selwyn is committed to minimum US$500,000 exploration expenditure by January 15, 2010. Preparatory fieldwork is now underway for the planned 1800 metres of drilling in late September to test ...