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BRL Venture – 31.96% Takara 68.04%* Newmont (pending closing with Victoria)
Takara Acquisition of Guyana Assets from Victoria Gold Corp.
Takara has entered into an agreement with Victoria Gold Corp. to acquire a
subsidiary of Victoria that holds two advanced stage gold projects within the
Guyana Shield, Guyana. Total consideration to Victoria will be the issuance of
56% of the outstanding shares of Takara on the date of closing. The two projects
are a 100% interest in the Tassawini Gold Project and a 31.96%* interest in the
BRL Venture. The BRL Venture is a joint venture with Newmont Overseas
Exploration Limited, a subsidiary of Newmont Mining Corporation.
*as at December 31, 2008
BRL Venture
Over the past few years, through the BRL Venture, with joint venture partner
Newmont Overseas Exploration Limited, a subsidiary of Newmont Mining Corporation
(NYSE & ASX: NEM; TSX: NMC) have acquired the dominant land position in
Northwest Guyana within the Arakaka Gold District. This is an exciting project
which has potential to add to gold resources. The district has been popular with
local placer miners for the past 100 years, but until recently, were not
explored systematically using modern techniques. StrataGold and Newmont were the
first to implement an exploration program which included regional and detailed
stream sediment and soil geochemistry surveys, induced polarization ground
geophysical surveys, detailed structural mapping, prospecting and trenching.
These regional exploration efforts have covered an area of over 4,000 square
kilometres resulting in a key project area: Monosse.
A compilation of the exploration work completed between 2005-2008, resulted in
StrataGold and Newmont applying for an additional ten PL's. A total of 14 option
agreements have been signed with existing land owners by StrataGold Guyana Inc.
during this time.
An update on exploration and activities on the project to date are pending.
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