MERAH ACQUIRES OPTION ON GOLD PROJECTS IN GHANA
Merah Resources Limited has entered into separate agreements with Castle Minerals Limited (ASX:CDT) to acquire 100% of Castle’s interests in the Antubia and Kong gold projects situated in Western Ghana.
The Antubia Gold Project consists of two contiguous licences with a combined area of 295 km2 located along strike from Newmont’s 17.7 Moz Ahafo gold mine on the faulted western margin of the Sefwi belt. The Kong Gold Project consists of 8 licence applications covering over 1,200 km2 within the highly prospective and under-explored NW region of Ghana.
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Welcome to Merah Resources
Merah Resources Limited (ASX:MEH) is a resources and energy company whose primary purpose is to define further mineralisation on its existing projects and identify, review and acquire potential new resources and energy based projects in Australia and overseas.
In April 2013, Merah entered into a heads of agreement with Topago (a wholly owned subsidiary of Castle) and Castle, to acquire 100% of Topago's interest in the Antubia gold tenements located in the Republic of Ghana and a heads of agreement with Castle, to acquire 100% of Castle's interest in the Kong gold tenements located in the Republic of Ghana, held by Carlie Mining Limited, a wholly owned subsidary of Castle.
The company also owns 100% of the Mt Adamson Project located 28kms west of Leinster, Western Australia and secured an option to earn an 80% interest in the Bounty and McAuley Projects located 5kms north of the Mt Adamson Project.
Merah intends to continue to identify, evaluate and if warranted, acquire additional resource projects and assets in Australia and/or overseas if the Board considers that they have the potential to add Shareholder value. The company will be looking to acquire these additional interests by way of direct project acquisition, farm in, joint venture or direct equity in the project owners, and may include minerals or prospectivity for minerals other than gold and base metals.